Brokerages Set Zions Bancorporation, N.A. (NASDAQ:ZION) Target Price at $60.78

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) have earned a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $60.78.

Several analysts recently commented on ZION shares. Wall Street Zen raised Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. DA Davidson lifted their price objective on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Keefe, Bruyette & Woods lowered their target price on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company increased 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 research report on Tuesday, July 22nd. Finally, Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an “underperform” rating to a “hold” rating and lifted their price target for the company from $45.00 to $60.00 in a report on Tuesday, July 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Forum Financial Management LP boosted its position in shares of Zions Bancorporation, N.A. by 11.5% in the 2nd quarter. Forum Financial Management LP now owns 5,727 shares of the bank’s stock worth $297,000 after purchasing an additional 589 shares during the last quarter. Ethic Inc. grew its position in shares of Zions Bancorporation, N.A. by 1.4% during the 2nd quarter. Ethic Inc. now owns 30,752 shares of the bank’s stock worth $1,583,000 after buying an additional 423 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of Zions Bancorporation, N.A. by 14.9% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 8,487 shares of the bank’s stock valued at $480,000 after acquiring an additional 1,100 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at approximately $3,096,000. Finally, Tweedy Browne Co LLC raised its position in shares of Zions Bancorporation, N.A. by 120.8% in the 2nd quarter. Tweedy Browne Co LLC now owns 10,055 shares of the bank’s stock valued at $522,000 after acquiring an additional 5,502 shares during the period. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $54.21 on Monday. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock has a market cap of $8.00 billion, a P/E ratio of 9.91, a PEG ratio of 1.55 and a beta of 0.90. The company’s 50-day simple moving average is $51.61 and its 200 day simple moving average is $50.86.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. The company had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. During the same period in the previous year, the business earned $1.28 earnings per share. As a group, research analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.17%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 31.44%.

About Zions Bancorporation, N.A.

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.