Zions Bancorporation, National Association (NASDAQ:ZION) Receives Consensus Rating of “Hold” from Brokerages

Zions Bancorporation, National Association (NASDAQ:ZION) has been assigned a consensus rating of “Hold” from the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.18.

A number of analysts have commented on the stock. UBS Group started coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price for the company. Royal Bank of Canada upped their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, January 22nd. Compass Point upped their target price on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Stephens restated an “equal weight” rating and issued a $64.00 price target on shares of Zions Bancorporation, National Association in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, January 7th.

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the transaction, the executive vice president now owns 29,313 shares of the company’s stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Zions Bancorporation, National Association by 27.7% during the third quarter. Cerity Partners LLC now owns 30,787 shares of the bank’s stock worth $1,454,000 after acquiring an additional 6,683 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Zions Bancorporation, National Association in the 3rd quarter worth $477,000. Dynamic Technology Lab Private Ltd bought a new stake in Zions Bancorporation, National Association in the third quarter worth $658,000. Bank of Montreal Can lifted its stake in Zions Bancorporation, National Association by 35.6% in the third quarter. Bank of Montreal Can now owns 58,427 shares of the bank’s stock worth $2,715,000 after purchasing an additional 15,354 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in Zions Bancorporation, National Association by 5.6% during the third quarter. D.A. Davidson & CO. now owns 18,179 shares of the bank’s stock valued at $858,000 after buying an additional 965 shares during the period. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $50.82 on Tuesday. Zions Bancorporation, National Association has a 52-week low of $39.05 and a 52-week high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a fifty day moving average price of $54.23 and a two-hundred day moving average price of $53.63. The firm has a market capitalization of $7.52 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association declared that its Board of Directors has approved a stock buyback program on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.38%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.