Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rated "Hold" by Sell-Side Brokerages

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) have received an average rating of "Hold" from the nineteen research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $72.59.

A number of research analysts have recently commented on ZION shares. Stephens decreased their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, July 21st. Robert W. Baird raised shares of Zions Bancorporation, N.A. from a "neutral" rating to an "outperform" rating and set a $75.00 target price on the stock in a report on Thursday, October 15th. UBS Group started coverage on shares of Zions Bancorporation, N.A. in a research note on Monday, September 14th. They issued a "buy" rating and a $78.00 target price for the company. TD Cowen reiterated a "hold" rating and issued a $69.00 target price on shares of Zions Bancorporation, N.A. in a research note on Tuesday. Finally, Morgan Stanley reduced their price target on Zions Bancorporation, N.A. from $78.00 to $77.00 and set an "underweight" rating for the company in a report on Tuesday.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION opened at $64.59 on Wednesday. Zions Bancorporation, N.A. has a 1-year low of $48.50 and a 1-year high of $73.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $66.09 and a 200 day simple moving average of $65.68. The stock has a market capitalization of $9.43 billion, a PE ratio of 7.93, a P/E/G ratio of 1.04 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued 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 net margin of 24.81% and a return on equity of 13.91%. The business had revenue of $887.00 million for the quarter, compared to the consensus estimate of $889.52 million. During the same period in the previous year, the company earned $1.48 earnings per share. On average, research analysts expect that Zions Bancorporation, N.A. will post 6.60 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its board has initiated a stock repurchase plan on Thursday, July 30th that allows the company to buy back $75.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 0.7% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a $0.48 dividend. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 3.0%. The ex-dividend date was Thursday, August 13th. Zions Bancorporation, N.A.'s dividend payout ratio is currently 24.46%.

Insider Activity

In other news, President Scott Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 directly owned 73,043 shares in the company, valued at approximately $5,159,027.09. The trade was a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the transaction, the executive vice president owned 17,449 shares of the company's stock, valued at $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 88,787 shares of company stock valued at $6,283,858 over the last three months. Insiders own 1.43% of the company's stock.

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

Several hedge funds have recently added to or reduced their stakes in the business. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth approximately $27,000. Elevation Wealth Partners LLC grew its position in shares of Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank's stock valued at $29,000 after purchasing an additional 349 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of Zions Bancorporation, N.A. during the second quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Zions Bancorporation, N.A. during the second quarter worth approximately $45,000. Finally, Burnham & Co LLC bought a new position in shares of Zions Bancorporation, N.A. during the second quarter worth approximately $55,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Key Stories Impacting Zions Bancorporation, N.A.

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Adjusted earnings beat expectations. Zions reported third-quarter EPS of $1.78, up from $1.48 a year earlier and ahead of the $1.64 consensus estimate. Net income attributable to common shareholders rose to $262 million from $221 million. Zions Third Quarter Financial Results
• Positive Sentiment: Credit quality improved significantly. Net loan and lease charge-offs fell to $3 million from $56 million in the prior-year quarter, while the provision for credit losses was an $8 million benefit versus a $49 million expense previously. Loans increased 4% year over year to $62.5 billion, and deposits rose 4% to $77.9 billion. Zions Third Quarter Net Earnings
• Positive Sentiment: DA Davidson raised its price target to $80 and reiterated a Buy rating, implying substantial potential upside based on the supplied reference price.
• Neutral Sentiment: Analyst opinion remains divided. RBC maintained Sector Perform with a $76 target, while TD Cowen reiterated Hold with a $69 target. JPMorgan raised its target to $87 but kept an Underweight rating, highlighting that a higher valuation target does not necessarily signal a bullish view.
• Negative Sentiment: Revenue was slightly below expectations. Reported revenue was approximately $881 million to $887 million, compared with consensus near $889.5 million. Noninterest expense also increased 5% year over year to $553 million. Morgan Stanley lowered its target to $77 and maintained an Underweight rating.

Zions Bancorporation, N.A. Company Profile

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.

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