Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Has Average Price Target of $72.53

Zions Bancorporation, N.A. (NASDAQ:ZION) has earned a consensus rating of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten 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 a report on the stock in the last year is $72.59.

Several equities research analysts have commented on ZION shares. Truist Financial upped their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a report on Friday, July 10th. Cantor Fitzgerald boosted 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 report on Wednesday, July 15th. Royal Bank Of Canada upped their price target on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. TD Cowen raised their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, DA Davidson boosted their target price on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, July 21st.

Insider Activity

In related news, President Scott J. Mclean sold 33,285 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the transaction, the president owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the sale, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. This trade represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 88,787 shares of company stock worth $6,283,858 over the last ninety days. Company insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. increased its position in shares of Zions Bancorporation, N.A. by 5.2% during the 1st quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after purchasing an additional 157 shares during the last quarter. Allworth Financial LP boosted its stake in Zions Bancorporation, N.A. by 5.7% in the second quarter. Allworth Financial LP now owns 2,978 shares of the bank’s stock worth $206,000 after buying an additional 161 shares in the last quarter. Michels Family Financial LLC boosted its stake in Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after buying an additional 185 shares in the last quarter. Modern Wealth Management LLC grew its position in Zions Bancorporation, N.A. by 4.7% during the first quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock valued at $272,000 after acquiring an additional 209 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Zions Bancorporation, N.A. by 0.6% during the second quarter. Arizona State Retirement System now owns 40,807 shares of the bank’s stock valued at $2,823,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $62.65 on Friday. The firm has a market cap of $9.14 billion, a PE ratio of 7.98, a PEG ratio of 1.05 and a beta of 0.78. The stock’s fifty day moving average price is $68.12 and its two-hundred day moving average price is $64.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.17. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $877.44 million. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.61 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a $0.48 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.92 annualized dividend and a yield of 3.1%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

Zions Bancorporation, N.A. declared that its board has authorized a share buyback plan on Thursday, July 30th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the bank to buy up to 0.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a regional financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides banking and financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and consumer lending, checking and savings accounts, treasury management, mortgage services, private banking, wealth management, and capital markets services. Zions operates through locally recognized brands including Zions Bank, Amegy Bank, California Bank & Trust, Nevada State Bank, and Vectra Bank Colorado.

Founded in 1873, Zions has expanded its presence across the western United States, serving customers in markets that include Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Wyoming.