Brokerages Set Zions Bancorporation, N.A. (NASDAQ:ZION) Target Price at $71.29

Zions Bancorporation, N.A. (NASDAQ:ZION) has earned an average rating of “Hold” from the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $71.2941.

A number of research firms have recently weighed in on ZION. TD Cowen increased their target price on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Evercore downgraded Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective on the stock. in a research note on Thursday, July 23rd. Morgan Stanley increased their price objective on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, Robert W. Baird raised their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st.

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

In other news, EVP Scott A. Law sold 4,608 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the sale, the executive vice president owned 32,890 shares of the company’s stock, valued at $2,381,893.80. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the sale, the president owned 73,043 shares in the company, valued at $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,787 shares of company stock valued at $6,283,858 over the last three months. 1.43% of the stock is currently owned by insiders.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of Zions Bancorporation, N.A. by 76.3% during the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after purchasing an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Zions Bancorporation, N.A. by 18.5% in the 1st 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 boosted its stake in Zions Bancorporation, N.A. by 0.5% in the 1st 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 grew its holdings in Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after buying an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Zions Bancorporation, N.A. by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock valued at $94,000 after buying an additional 625 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $69.37 on Tuesday. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34. The company has a market capitalization of $10.12 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. The business has a fifty day moving average price of $69.81 and a two-hundred day moving average price of $64.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $877.44 million. During the same period in the previous year, the business posted $1.63 EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. Analysts forecast that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $0.48 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 24.46%.

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

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.