Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Has Consensus Price Target of $72.53 According to Brokerages

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) have been given an average rating of “Hold” by the nineteen brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $72.35.

ZION has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday. Stephens decreased their price target on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Wells Fargo & Company boosted their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Cantor Fitzgerald lifted their price target on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th.

Zions Bancorporation, N.A. Price Performance

ZION opened at $63.17 on Friday. The firm has a market capitalization of $9.22 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 1.05 and a beta of 0.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50-day moving average is $67.87 and its two-hundred day moving average is $65.00. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $877.44 million. During the same quarter in the prior year, the company posted $1.63 earnings per share. Zions Bancorporation, N.A.’s revenue for the quarter was up 35.7% compared to the same quarter last year. Research analysts anticipate that Zions Bancorporation, N.A. will post 6.61 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.0%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

Zions Bancorporation, N.A. declared that its board has initiated a share repurchase plan on Thursday, July 30th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the bank to repurchase up to 0.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Zions Bancorporation, N.A.

In related news, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of the transaction, the executive vice president directly owned 17,449 shares in the company, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Scott Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president owned 73,043 shares in the company, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 88,787 shares of company stock worth $6,283,858. Insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of institutional investors have recently modified their holdings of ZION. Versant Capital Management Inc grew its holdings in shares of Zions Bancorporation, N.A. by 9.9% in the third quarter. Versant Capital Management Inc now owns 7,503 shares of the bank’s stock valued at $470,000 after purchasing an additional 674 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Zions Bancorporation, N.A. by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 99,262 shares of the bank’s stock worth $6,868,000 after acquiring an additional 9,848 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Zions Bancorporation, N.A. by 11.2% in the second quarter. Tidal Investments LLC now owns 10,519 shares of the bank’s stock worth $728,000 after acquiring an additional 1,061 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the second quarter worth $133,000. Finally, NewEdge Advisors LLC grew its stake in Zions Bancorporation, N.A. by 3.3% during the 2nd quarter. NewEdge Advisors LLC now owns 8,396 shares of the bank’s stock worth $581,000 after purchasing an additional 270 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a regional financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides banking and financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and consumer lending, checking and savings accounts, treasury management, mortgage services, private banking, wealth management, and capital markets services. Zions operates through locally recognized brands including Zions Bank, Amegy Bank, California Bank & Trust, Nevada State Bank, and Vectra Bank Colorado.

Founded in 1873, Zions has expanded its presence across the western United States, serving customers in markets that include Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Wyoming.