Zions Bancorporation, N.A. (NASDAQ:ZION) Receives $66.35 Consensus Target Price from Analysts

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) have earned a consensus rating of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $66.3529.

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price objective on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. DA Davidson increased their price objective on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. TD Cowen increased their price objective on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. Brean Capital assumed coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird increased their price objective on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $67.12 on Thursday. The stock’s 50-day moving average is $62.81 and its two-hundred day moving average is $60.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $67.99. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping 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 company had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same quarter in the prior year, the business earned $1.13 EPS. Analysts forecast that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has approved a share repurchase plan on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

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

Insider Activity

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.43% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, N.A.

A number of large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $430,813,000 after purchasing an additional 56,438 shares during the period. LSV Asset Management boosted its position in shares of Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after purchasing an additional 48,346 shares during the period. Morgan Stanley boosted its position in shares of Zions Bancorporation, N.A. by 10.8% in the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after purchasing an additional 306,717 shares during the period. AQR Capital Management LLC boosted its position in shares of Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after purchasing an additional 711,218 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Zions Bancorporation, N.A. by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after purchasing an additional 30,881 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

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.