Zions Bancorporation, N.A. (NASDAQ:ZION) Receives $71.29 Average Price Target from Analysts

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) have been assigned a consensus rating of “Hold” from the twenty analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $71.2941.

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald raised their price target on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Barclays increased their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Stephens cut their target price on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th.

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

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of the transaction, the executive vice president owned 17,449 shares in the company, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott A. Law sold 4,608 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the transaction, the executive vice president owned 32,890 shares in the company, valued at $2,381,893.80. This trade represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 88,787 shares of company stock valued at $6,283,858. 1.43% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, N.A.

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter worth about $982,244,000. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, N.A. by 0.8% during 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 in the last quarter. LSV Asset Management boosted its position in shares of Zions Bancorporation, N.A. by 1.3% during 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 in the last quarter. Morgan Stanley grew its stake in Zions Bancorporation, N.A. by 10.8% during the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after purchasing an additional 306,717 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Down 0.4%

NASDAQ:ZION opened at $71.61 on Friday. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $10.45 billion, a PE ratio of 9.12, a P/E/G ratio of 1.71 and a beta of 0.81. The firm’s 50 day simple moving average is $69.15 and its 200 day simple moving average is $63.25.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be issued a $0.48 dividend. The ex-dividend date is Thursday, August 13th. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 22.93%.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock buyback plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.