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

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) have received a consensus recommendation of “Hold” from the twenty ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $66.3529.

A number of research firms recently weighed in on ZION. Barclays upped their target price on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st. 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 report on Thursday, April 2nd. TD Cowen upped their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. Finally, Brean Capital initiated coverage on shares of Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They set a “neutral” rating on the stock.

Insider Activity at Zions Bancorporation, N.A.

In other 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 SEC, which is available through the SEC website. 1.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZION. Royal Bank of Canada boosted its position 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 worth $6,853,000 after purchasing an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after purchasing an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Zions Bancorporation, N.A. by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after purchasing an additional 2,659 shares during the period. Focus Partners Wealth raised its holdings in Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after purchasing an additional 10,283 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Zions Bancorporation, N.A. by 52.5% in 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.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $68.30 on Thursday. The company has a market capitalization of $10.05 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 2.27 and a beta of 0.81. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $69.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day moving average price is $63.10 and its 200 day moving average price is $60.44.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The company had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same quarter in the previous year, the firm posted $1.13 EPS. As a group, analysts expect that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current year.

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

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 27.99%.

Zions Bancorporation, N.A. Company Profile

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.