Zions Bancorporation, National Association (NASDAQ:ZION) Given Average Rating of “Hold” by Brokerages

Shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) have been assigned an average rating of “Hold” from the nineteen research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $59.09.

ZION has been the topic of a number of research reports. Truist Financial dropped their price target on Zions Bancorporation, National Association from $60.00 to $57.00 in a research note on Friday, December 9th. Morgan Stanley initiated coverage on Zions Bancorporation, National Association in a research note on Monday, December 5th. They issued an “equal weight” rating and a $65.00 price target on the stock. Wolfe Research cut Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 2nd. Barclays cut Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $68.00 to $59.00 in a report on Tuesday, January 3rd. Finally, Piper Sandler decreased their target price on Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $51.39 on Friday. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 2.68 and a beta of 1.15. Zions Bancorporation, National Association has a 12 month low of $45.21 and a 12 month high of $75.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $49.85 and its two-hundred day simple moving average is $52.21.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last released its quarterly earnings results on Monday, October 24th. The bank reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.18). The firm had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $816.01 million. Zions Bancorporation, National Association had a return on equity of 14.98% and a net margin of 26.92%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share. Research analysts anticipate that Zions Bancorporation, National Association will post 5.6 earnings per share for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock buyback program on Friday, October 28th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 10th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, November 9th. This represents a $1.64 dividend on an annualized basis and a yield of 3.19%. Zions Bancorporation, National Association’s dividend payout ratio is presently 30.94%.

Insider Transactions at Zions Bancorporation, National Association

In other news, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $52.05, for a total value of $123,774.90. Following the sale, the vice president now directly owns 15,172 shares of the company’s stock, valued at $789,702.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP A Scott Anderson sold 14,774 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $49.82, for a total value of $736,040.68. Following the sale, the vice president now directly owns 14,530 shares of the company’s stock, valued at $723,884.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bruce K. Alexander sold 2,378 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $52.05, for a total value of $123,774.90. Following the completion of the transaction, the vice president now owns 15,172 shares of the company’s stock, valued at approximately $789,702.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,032 shares of company stock valued at $905,391. 1.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Zions Bancorporation, National Association by 4.7% in the third quarter. Vanguard Group Inc. now owns 19,943,882 shares of the bank’s stock worth $1,014,347,000 after acquiring an additional 902,141 shares in the last quarter. Victory Capital Management Inc. grew its position in Zions Bancorporation, National Association by 7.2% in the third quarter. Victory Capital Management Inc. now owns 7,704,832 shares of the bank’s stock worth $391,868,000 after acquiring an additional 516,551 shares in the last quarter. State Street Corp grew its position in Zions Bancorporation, National Association by 4.4% in the third quarter. State Street Corp now owns 7,299,350 shares of the bank’s stock worth $371,245,000 after acquiring an additional 304,725 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 worth $224,450,000 after acquiring an additional 162,464 shares in the last quarter. Finally, LSV Asset Management grew its position in Zions Bancorporation, National Association by 7.0% in the third quarter. LSV Asset Management now owns 4,062,722 shares of the bank’s stock worth $206,630,000 after acquiring an additional 266,669 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Zions Bancorporation, National Association Company Profile

(Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

See Also

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

Receive News & Ratings for Zions Bancorporation National Association Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation National Association and related companies with MarketBeat.com's FREE daily email newsletter.