Zions Bancorporation, N.A. (NASDAQ:ZION) Receives $68.18 Average Target Price from Brokerages

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) have been assigned an average rating of “Hold” from the twenty analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $69.1176.

ZION has been the subject of a number of research analyst reports. Cantor Fitzgerald raised their target price on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stephens started coverage on Zions Bancorporation, N.A. in a report on Monday, June 15th. They set an “overweight” rating and a $79.00 target price for the company. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price target on shares of Zions Bancorporation, N.A. from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler lowered their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $72.27 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock has a market cap of $10.63 billion, a PE ratio of 11.24, a P/E/G ratio of 1.75 and a beta of 0.80. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The company has a 50-day moving average price of $65.74 and a 200 day moving average price of $61.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. During the same period in the previous year, the firm earned $1.13 earnings per share. Equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current year.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s payout ratio is presently 27.99%.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share buyback program on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is owned by company insiders.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of Zions Bancorporation, N.A. by 76.3% in the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Zions Bancorporation, N.A. by 18.5% during 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 holdings in shares of Zions Bancorporation, N.A. by 0.5% during 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 last quarter. Focus Partners Wealth grew its position in shares of Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 10,283 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake 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 valued at $94,000 after purchasing an additional 625 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

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.