Zions Bancorporation, National Association (NASDAQ:ZION) Receives Average Rating of “Hold” from Analysts

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) has earned a consensus rating of “Hold” from the nineteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $61.22.

Several analysts have recently commented on the company. Wedbush reduced their price target on Zions Bancorporation, National Association from $61.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, October 25th. Truist Financial raised their price target on Zions Bancorporation, National Association from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Piper Sandler reduced their price target on Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 25th. Compass Point reduced their price target on Zions Bancorporation, National Association to $60.00 in a report on Thursday, October 20th. Finally, Keefe, Bruyette & Woods cut Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $77.00 to $72.00 in a report on Thursday, October 6th.

Zions Bancorporation, National Association Trading Down 0.2 %

NASDAQ:ZION opened at $50.68 on Friday. The stock’s 50 day moving average price is $52.39 and its 200 day moving average price is $53.63. The company has a market capitalization of $7.58 billion, a PE ratio of 9.56, a P/E/G ratio of 1.89 and a beta of 1.18. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.15. Zions Bancorporation, National Association has a 52-week low of $46.58 and a 52-week high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its earnings results on Monday, October 24th. The bank reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.18). The company had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $816.01 million. Zions Bancorporation, National Association had a net margin of 26.92% and a return on equity of 14.98%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. On average, research analysts anticipate that Zions Bancorporation, National Association will post 5.63 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 10th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.24%. The ex-dividend date was Wednesday, November 9th. Zions Bancorporation, National Association’s payout ratio is 30.94%.

Zions Bancorporation, National Association announced that its Board of Directors has approved a share buyback plan on Friday, July 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the bank to buy up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, SVP James R. Abbott acquired 2,000 shares of the stock in a transaction dated Thursday, November 17th. The stock was acquired at an average price of $50.45 per share, with a total value of $100,900.00. Following the completion of the transaction, the senior vice president now directly owns 79,918 shares in the company, valued at $4,031,863.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 14,774 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $49.82, for a total transaction of $736,040.68. Following the transaction, the vice president now owns 14,530 shares in the company, valued at $723,884.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James R. Abbott acquired 2,000 shares of Zions Bancorporation, National Association stock in a transaction on Thursday, November 17th. The shares were bought at an average price of $50.45 per share, for a total transaction of $100,900.00. Following the purchase, the senior vice president now owns 79,918 shares of the company’s stock, valued at $4,031,863.10. The disclosure for this purchase can be found here. Company insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Zions Bancorporation, National Association by 4.7% during the third quarter. Vanguard Group Inc. now owns 19,943,882 shares of the bank’s stock valued at $1,014,347,000 after buying an additional 902,141 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Zions Bancorporation, National Association by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 7,704,832 shares of the bank’s stock valued at $391,868,000 after acquiring an additional 516,551 shares during the last quarter. State Street Corp lifted its position in shares of Zions Bancorporation, National Association by 4.4% during the 3rd quarter. State Street Corp now owns 7,299,350 shares of the bank’s stock valued at $371,245,000 after acquiring an additional 304,725 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Zions Bancorporation, National Association by 3.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,413,092 shares of the bank’s stock valued at $224,450,000 after purchasing an additional 162,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Zions Bancorporation, National Association by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,275,610 shares of the bank’s stock valued at $280,322,000 after purchasing an additional 43,151 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Zions Bancorporation, National Association Company Profile

(Get Rating)

Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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Analyst Recommendations for Zions Bancorporation, National Association (NASDAQ:ZION)

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