Zions Bancorporation, National Association (NASDAQ:ZION) Receives $58.47 Consensus PT from Analysts

Shares of Zions Bancorporation, National Association (NASDAQ:ZION) have received a consensus rating of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $58.47.

Several equities research analysts have recently commented on the company. Argus raised Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Monday, April 28th. Wells Fargo & Company reduced their price objective on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird dropped their price objective on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd.

Zions Bancorporation, National Association Stock Up 0.3%

Shares of NASDAQ:ZION opened at $49.22 on Wednesday. The company’s fifty day moving average is $46.48 and its two-hundred day moving average is $52.88. 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 $39.32 and a 1-year high of $63.22. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same quarter in the prior year, the firm earned $0.96 EPS. Equities analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

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

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.49%. Zions Bancorporation, National Association’s dividend payout ratio is presently 33.59%.

Insider Buying and Selling

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. This trade represents a 43.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently made changes to their positions in the company. Curat Global LLC acquired a new stake in Zions Bancorporation, National Association in the first quarter valued at $25,000. Picton Mahoney Asset Management bought a new stake in shares of Zions Bancorporation, National Association in the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after purchasing an additional 183 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Zions Bancorporation, National Association during the first quarter worth approximately $40,000. Finally, Covestor Ltd increased its position in Zions Bancorporation, National Association by 128.1% during the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock worth $46,000 after buying an additional 479 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association 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.