Analysts Set Zions Bancorporation, National Association (NASDAQ:ZION) Price Target at $57.94

Shares of Zions Bancorporation, National Association (NASDAQ:ZION) have earned an average rating of “Hold” from the eighteen research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $57.94.

A number of research firms have recently commented on ZION. Keefe, Bruyette & Woods cut their price objective on Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group began coverage on Zions Bancorporation, National Association in a report on Wednesday, May 21st. They issued an “underperform” rating and a $40.00 price objective on the stock. Robert W. Baird cut their price objective on 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. Stephens cut their price objective on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Truist Financial began coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, May 13th. They set a “hold” rating and a $52.00 target price on the stock.

Institutional Trading of Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently made changes to their positions in ZION. Fisher Asset Management LLC acquired a new stake in Zions Bancorporation, National Association during the fourth quarter valued at approximately $389,000. Strategic Financial Concepts LLC bought a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at about $2,538,000. Polymer Capital Management US LLC acquired a new stake in Zions Bancorporation, National Association in the fourth quarter worth approximately $229,000. Proficio Capital Partners LLC acquired a new stake in Zions Bancorporation, National Association in the fourth quarter worth approximately $4,237,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in Zions Bancorporation, National Association in the fourth quarter worth about $651,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Price Performance

Zions Bancorporation, National Association stock opened at $48.72 on Friday. The stock has a market capitalization of $7.19 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22. The firm’s 50-day moving average is $46.32 and its two-hundred day moving average is $51.61.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $795.00 million during the quarter, compared to analyst estimates of $792.49 million. During the same quarter in the prior year, the business posted $0.96 earnings per share. Equities analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 3.53%. Zions Bancorporation, National Association’s dividend payout ratio is presently 33.59%.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a share repurchase program on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.