Zions Bancorporation, N.A. (NASDAQ:ZION) Given Consensus Rating of “Hold” by Brokerages

Zions Bancorporation, N.A. (NASDAQ:ZION) has been given a consensus rating of “Hold” by the twenty analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $68.1765.

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Wells Fargo & Company increased their price target on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Piper Sandler cut their price objective on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Citigroup boosted their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Finally, Stephens initiated coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, June 15th. They issued an “overweight” rating and a $79.00 target price on the stock.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $70.66 on Monday. The firm has a market cap of $10.39 billion, a PE ratio of 10.99, a PEG ratio of 1.69 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50 day moving average price is $64.90 and its 200-day moving average price is $61.39. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $71.26.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period in the prior year, the firm posted $1.13 earnings per share. On average, equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.49 EPS for the current year.

Zions Bancorporation, N.A. announced that its board has initiated a share repurchase plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s payout ratio is 27.99%.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZION. Royal Bank of Canada raised its holdings in shares of Zions Bancorporation, N.A. by 76.3% in the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after buying an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Zions Bancorporation, N.A. by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after acquiring an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Zions Bancorporation, N.A. by 0.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after acquiring an additional 2,659 shares during the period. Focus Partners Wealth grew its position in Zions Bancorporation, N.A. by 91.7% in the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Zions Bancorporation, N.A. by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after purchasing an additional 625 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.