Zions Bancorporation, N.A. (ZION) – What Are Analysts Thinking About This Stock?

Zions Bancorporation, N.A. (NASDAQ:ZION) has received a consensus rating of “Hold” from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a 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 $73.44.

ZION has been the topic of a number of analyst reports. Truist Financial dropped their price target on Zions Bancorporation, N.A. from $72.00 to $67.00 and set a “hold” rating on the stock in a research report on Friday, October 9th. Citigroup cut their price target on Zions Bancorporation, N.A. from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. Cantor Fitzgerald reduced their price objective on Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Morgan Stanley lowered their price objective on Zions Bancorporation, N.A. from $78.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, October 20th. Finally, Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Thursday, October 15th.

Zions Bancorporation, N.A. Stock Up 0.6%

NASDAQ:ZION traded up $0.39 during mid-day trading on Friday, hitting $66.34. 1,240,392 shares of the company’s stock were exchanged, compared to its average volume of 1,721,607. Zions Bancorporation, N.A. has a one year low of $48.50 and a one year high of $73.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $64.99 and a 200 day moving average price of $64.12. The company has a market cap of $9.62 billion, a PE ratio of 8.14, a P/E/G ratio of 1.09 and a beta of 0.85.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. Zions Bancorporation, N.A. had a net margin of 24.81% and a return on equity of 13.77%. The business had revenue of $887.00 million for the quarter, compared to analysts’ expectations of $889.52 million. During the same quarter in the prior year, the company earned $1.48 earnings per share. Equities analysts predict that Zions Bancorporation, N.A. will post 6.73 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.92 annualized dividend and a dividend yield of 2.9%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 23.56%.

Zions Bancorporation, N.A. declared that its board has initiated a stock repurchase program on Thursday, July 30th that authorizes the company to repurchase $75 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 0.7% of its stock through open market purchases. Share repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, EVP Christopher Kyriakakis sold 2,703 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $67.05, for a total value of $181,236.15. Following the transaction, the executive vice president owned 36,700 shares in the company, valued at $2,460,735. The trade was a 6.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at $982,244,000. Dimensional Fund Advisors LP raised its position in Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock worth $430,813,000 after buying an additional 56,438 shares during the last quarter. First Trust Advisors LP lifted its stake in Zions Bancorporation, N.A. by 28.5% during the 1st quarter. First Trust Advisors LP now owns 1,917,826 shares of the bank’s stock valued at $110,505,000 after acquiring an additional 425,325 shares during the period. Bank of New York Mellon Corp bought a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at about $87,961,000. Finally, Deutsche Bank AG bought a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at about $71,767,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a national bank providing commercial and retail banking services to individuals, businesses, and institutions. Its offerings include business and consumer lending, deposit accounts, treasury management, and related banking services. The bank serves customers across 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through regional banking brands, including Zions Bank, Amegy Bank, California Bank & Trust, and National Bank of Arizona.