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

Zions Bancorporation, N.A. (NASDAQ:ZION) has been given an average rating of “Hold” by the twenty-two analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $63.5789.

A number of equities research analysts have recently commented on ZION shares. Weiss Ratings lowered Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Jefferies Financial Group raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a research note on Wednesday, November 19th. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Monday, March 9th. Finally, Citigroup lifted their price target on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd.

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

In other news, CEO Harris H. Simmons bought 4,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was purchased at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the acquisition, the chief executive officer owned 1,317,493 shares in the company, valued at approximately $77,771,611.79. This trade represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Eric Ellingsen sold 1,519 shares of Zions Bancorporation, N.A. stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $61.27, for a total value of $93,069.13. Following the completion of the sale, the vice president directly owned 40,361 shares in the company, valued at $2,472,918.47. This represents a 3.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 55,581 shares of company stock valued at $3,498,774 over the last quarter. 2.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in 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 valued at $6,853,000 after buying an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $2,042,000 after acquiring an additional 6,393 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Zions Bancorporation, N.A. by 0.5% during 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 acquiring an additional 2,659 shares during the last quarter. Focus Partners Wealth boosted its position 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 worth $1,072,000 after acquiring an additional 10,283 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Zions Bancorporation, N.A. by 75.3% during the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock worth $35,000 after acquiring an additional 289 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Price Performance

ZION opened at $53.10 on Tuesday. The stock has a market cap of $7.85 billion, a P/E ratio of 8.85 and a beta of 0.83. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $66.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $59.84 and a 200 day simple moving average of $56.97.

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 30.00%.

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.