Zions Bancorporation, National Association (NASDAQ:ZION) Given Consensus Recommendation of “Hold” by Brokerages

Zions Bancorporation, National Association (NASDAQ:ZION) has received an average recommendation of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $61.81.

A number of research analysts recently commented on ZION shares. Stephens restated an “equal weight” rating and set a $64.00 price objective on shares of Zions Bancorporation, National Association in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their target price on shares of Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. DA Davidson boosted their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Morgan Stanley lowered their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, Barclays raised their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday, January 22nd.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,029 shares of company stock worth $1,855,321 over the last ninety days. 2.22% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Several large investors have recently added to or reduced their stakes in ZION. Virtu Financial LLC acquired a new position in Zions Bancorporation, National Association during the third quarter valued at approximately $583,000. Fisher Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association in the fourth quarter valued at $389,000. Strategic Financial Concepts LLC acquired a new position in shares of Zions Bancorporation, National Association in the 4th quarter valued at $2,538,000. Polymer Capital Management US LLC acquired a new stake in Zions Bancorporation, National Association during the fourth quarter valued at approximately $229,000. Finally, SG Americas Securities LLC boosted its stake in Zions Bancorporation, National Association by 244.8% in the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock valued at $1,541,000 after buying an additional 20,167 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Price Performance

ZION opened at $44.28 on Friday. The company has a market capitalization of $6.53 billion, a P/E ratio of 8.95, a PEG ratio of 1.61 and a beta of 0.92. The company has a 50-day moving average of $49.18 and a 200-day moving average of $53.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its board has approved a share repurchase plan on Monday, February 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 13th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.88%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

About Zions Bancorporation, National Association

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.