Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Breaks Above Fifty Day Moving Average - Time to Sell?

Key Points

• Zions shares rose above their 50-day moving average, trading as high as $67.13 and last at $66.25; the 50-day average was $65.09.
• Analysts’ consensus rating is Hold, with an average price target of $73.44. Seven analysts rate the stock Buy, eight Hold, and three Sell.
• The bank reported quarterly EPS of $1.78, beating estimates of $1.64, while revenue of $887 million slightly missed expectations. It also declared a $0.48 quarterly dividend, a 2.9% yield.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $65.09 and traded as high as $67.13. Zions Bancorporation, N.A. shares last traded at $66.25, with a volume of 1,770,351 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZION shares. Royal Bank Of Canada restated a "sector perform" rating and issued a $76.00 price objective on shares of Zions Bancorporation, N.A. in a report on Tuesday, October 20th. Evercore cut shares of Zions Bancorporation, N.A. from an "outperform" rating to an "in-line" rating and set a $68.00 price objective on the stock. in a research report on Thursday, July 23rd. Truist Financial reduced their target price on Zions Bancorporation, N.A. from $72.00 to $67.00 and set a "hold" rating on the stock in a research note on Friday, October 9th. Wells Fargo & Company raised their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Zions Bancorporation, N.A. in a research report on Thursday, October 29th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $73.44.

Zions Bancorporation, N.A. Stock Up 2.3%

The company's fifty day moving average is $65.09 and its 200-day moving average is $63.99. The company has a market cap of $9.67 billion, a PE ratio of 8.13, a PEG ratio of 1.04 and a beta of 0.85. 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. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, October 19th. The bank reported $1.78 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $887.00 million for the quarter, compared to the consensus estimate of $889.52 million. During the same quarter last year, the company earned $1.48 earnings per share. On average, analysts predict that Zions Bancorporation, N.A. will post 6.70 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, November 12th. Zions Bancorporation, N.A.'s dividend payout ratio is presently 23.56%.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 30th that permits the company to buy back $75 million in shares. This buyback authorization permits the bank to repurchase up to 0.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors have recently added to or reduced their stakes in ZION. BlackRock Inc. bought a new position in shares of Zions Bancorporation, N.A. in the second quarter worth about $982,244,000. Dimensional Fund Advisors LP lifted its stake 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 worth $430,813,000 after purchasing an additional 56,438 shares during the last quarter. First Trust Advisors LP boosted its position in Zions Bancorporation, N.A. by 28.5% during the first quarter. First Trust Advisors LP now owns 1,917,826 shares of the bank's stock valued at $110,505,000 after purchasing an additional 425,325 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Zions Bancorporation, N.A. in the second quarter valued at about $87,961,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Zions Bancorporation, N.A. by 50.1% in the 1st quarter. Quantinno Capital Management LP now owns 1,242,578 shares of the bank's stock valued at $71,597,000 after buying an additional 414,902 shares in the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a national bank providing commercial and retail banking services to individuals, businesses, and institutions. Its offerings include business and consumer lending, deposit accounts, treasury management, and related banking services.

The bank serves customers across 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through regional banking brands, including Zions Bank, Amegy Bank, California Bank & Trust, and National Bank of Arizona.

The institution traces its history to 1873, when Zion's Savings Bank and Trust Company was established in Salt Lake City.

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