Zions Bancorporation, National Association (NASDAQ:ZION) Receives $58.47 Consensus PT from Brokerages

Shares of Zions Bancorporation, National Association (NASDAQ:ZION) have earned a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $58.47.

A number of research firms recently weighed in on ZION. Morgan Stanley decreased their target price on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Argus upgraded shares of Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Monday, April 28th. Wells Fargo & Company dropped their price target on Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. DA Davidson increased their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Truist Financial initiated coverage on Zions Bancorporation, National Association in a research note on Tuesday. They set a “hold” rating and a $52.00 price objective on the stock.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. The trade was a 43.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ZION. Vanguard Group Inc. lifted its stake in Zions Bancorporation, National Association by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock valued at $1,032,775,000 after acquiring an additional 285,588 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, National Association by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank’s stock valued at $351,027,000 after purchasing an additional 233,252 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Zions Bancorporation, National Association by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after purchasing an additional 194,995 shares in the last quarter. LSV Asset Management lifted its position in shares of Zions Bancorporation, National Association by 3.7% during the first quarter. LSV Asset Management now owns 3,791,047 shares of the bank’s stock valued at $189,022,000 after purchasing an additional 136,870 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Zions Bancorporation, National Association by 326.4% during the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock worth $139,927,000 after purchasing an additional 2,194,514 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $49.22 on Wednesday. The stock has a market cap of $7.26 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The stock has a 50-day moving average of $46.48 and a 200-day moving average of $52.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a one year low of $39.32 and a one year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same quarter in the previous year, the business posted $0.96 EPS. As a group, sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has approved a share buyback plan on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association’s payout ratio is currently 33.59%.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.