Zions Bancorporation, N.A. (NASDAQ:ZION) Hits New 12-Month High – Time to Buy?

Zions Bancorporation, N.A. (NASDAQ:ZION)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $67.99 and last traded at $66.27, with a volume of 1627506 shares. The stock had previously closed at $67.25.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZION. JPMorgan Chase & Co. upped their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Robert W. Baird upped their price objective on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Brean Capital began coverage on Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Stephens began coverage on Zions Bancorporation, N.A. in a research report on Monday. They set an “overweight” rating and a $79.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and an average price target of $66.35.

Zions Bancorporation, N.A. Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $9.75 billion, a PE ratio of 10.31, a P/E/G ratio of 2.23 and a beta of 0.81. The company has a fifty day moving average price of $62.15 and a two-hundred day moving average price of $59.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The business had revenue of $859.00 million during the quarter, compared to the consensus estimate of $853.73 million. During the same period in the previous year, the business earned $1.13 EPS. Sell-side analysts forecast that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current year.

Zions Bancorporation, N.A. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s payout ratio is presently 27.99%.

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently made changes to their positions in the company. Torren Management LLC purchased a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at approximately $32,000. Leonteq Securities AG purchased a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $32,000. Community Bank N.A. acquired a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth approximately $36,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $42,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.