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

Zions Bancorporation, N.A. (NASDAQ:ZION) has been given a consensus recommendation of “Hold” by the twenty research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $71.2941.

ZION has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Truist Financial boosted their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Cantor Fitzgerald upped their price objective on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Stephens decreased their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a research report on Tuesday, July 21st.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $66.69 on Tuesday. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.61 and a beta of 0.81. The firm’s 50-day moving average price is $69.86 and its two-hundred day moving average price is $63.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $877.44 million. During the same quarter in the prior year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.9%. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 24.46%.

Zions Bancorporation, N.A. announced that its board has approved a share repurchase program on Thursday, July 30th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In related news, EVP Derek Steward sold 894 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the transaction, the executive vice president owned 17,449 shares in the company, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott A. Law sold 4,608 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the sale, the executive vice president directly owned 32,890 shares in the company, valued at $2,381,893.80. This trade represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 88,787 shares of company stock valued at $6,283,858 in the last quarter. 1.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC lifted its stake in Zions Bancorporation, N.A. by 528.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after acquiring an additional 349 shares during the period. Leonteq Securities AG bought a new stake in Zions Bancorporation, N.A. in the 4th quarter worth approximately $32,000. Trust Co. of Vermont purchased a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at $35,000. Atlas Capital Advisors Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $36,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Zions Bancorporation, N.A. in the second quarter worth $45,000. 76.84% of the stock is owned by institutional investors.

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.