Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Has Average Price Target of $72.59

Zions Bancorporation, N.A. (NASDAQ:ZION) has been given a consensus recommendation of “Hold” by the eighteen analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $73.56.

A number of equities analysts have commented on ZION shares. DA Davidson lifted their price objective on shares of Zions Bancorporation, N.A. from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Piper Sandler raised their target price on shares of Zions Bancorporation, N.A. from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. JPMorgan Chase & Co. lifted their target price on shares of Zions Bancorporation, N.A. from $86.00 to $87.00 and gave the stock an “underweight” rating in a report on Tuesday, October 20th. Finally, Truist Financial reduced their target price on shares of Zions Bancorporation, N.A. from $72.00 to $67.00 and set a “hold” rating for the company in a report on Friday, October 9th.

Insider Transactions at Zions Bancorporation, N.A.

In other news, President Scott Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the transaction, the president owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Derek Steward sold 894 shares of the company’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 value of $62,267.10. Following the completion of the transaction, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 88,787 shares of company stock worth $6,283,858 over the last quarter. Company insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI acquired a new stake in Zions Bancorporation, N.A. in the 3rd quarter worth about $472,000. Evergreen Capital Management LLC boosted its holdings in Zions Bancorporation, N.A. by 3.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 4,814 shares of the bank’s stock valued at $302,000 after purchasing an additional 182 shares during the period. Capital Investment Advisors LLC boosted its holdings in Zions Bancorporation, N.A. by 12.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 3,828 shares of the bank’s stock valued at $240,000 after purchasing an additional 413 shares during the period. Inspire Investing LLC grew its position in shares of Zions Bancorporation, N.A. by 3.5% during the 3rd quarter. Inspire Investing LLC now owns 8,081 shares of the bank’s stock worth $506,000 after purchasing an additional 271 shares in the last quarter. Finally, MBL Wealth LLC acquired a new position in shares of Zions Bancorporation, N.A. during the 3rd quarter worth approximately $327,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $66.20 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. Zions Bancorporation, N.A. has a 12-month low of $48.50 and a 12-month high of $73.34. The business has a 50 day moving average of $65.74 and a 200-day moving average of $65.84. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 1.04 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. Zions Bancorporation, N.A. had a return on equity of 13.77% and a net margin of 24.81%. The business had revenue of $887.00 million for the quarter, compared to analyst estimates of $889.52 million. During the same period in the previous year, the firm earned $1.48 EPS. On average, equities research analysts expect that Zions Bancorporation, N.A. will post 6.67 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.92 annualized dividend and a yield of 2.9%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s payout ratio is currently 23.56%.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a stock buyback program on Thursday, July 30th that authorizes the company to repurchase $75.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 0.7% of its shares through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is 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 related financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and industrial lending, commercial real estate financing, small-business banking, consumer loans, residential mortgages, deposit accounts, treasury management, investment services, and private banking.