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

Zions Bancorporation, N.A. (NASDAQ:ZION) has been given a consensus rating of “Hold” by the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $61.3333.

A number of equities research analysts have recently issued reports on ZION shares. Royal Bank Of Canada increased their price target on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Truist Financial increased their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Citigroup boosted their price target on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an “underperform” rating to a “hold” rating and upped their price target for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZION. Ethic Inc. increased its position in shares of Zions Bancorporation, N.A. by 1.8% in the third quarter. Ethic Inc. now owns 31,311 shares of the bank’s stock worth $1,772,000 after purchasing an additional 559 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its stake in Zions Bancorporation, N.A. by 71.4% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 8,905 shares of the bank’s stock worth $504,000 after buying an additional 3,710 shares in the last quarter. CWM LLC increased its holdings in shares of Zions Bancorporation, N.A. by 11.7% in the 3rd quarter. CWM LLC now owns 46,776 shares of the bank’s stock worth $2,647,000 after buying an additional 4,897 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter valued at $1,528,000. Finally, Norden Group LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth $230,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock opened at $49.67 on Friday. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The business has a fifty day moving average price of $55.87 and a 200-day moving average price of $51.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $7.33 billion, a P/E ratio of 9.08, a PEG ratio of 1.00 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The company had revenue of $705.00 million for the quarter. As a group, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s payout ratio is 32.91%.

Zions Bancorporation, N.A. 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.