Zions Bancorporation, N.A. (NASDAQ:ZION) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts rate Zions Bancorporation “Hold” overall: Twelve of 20 brokerages are neutral, while six recommend buying and two recommend selling. The average 12-month price target is $71.29, close to the stock’s reported $70.58 opening price.
• Shareholder returns are being increased: The quarterly dividend rose to $0.48 per share, equivalent to a 2.7% annualized yield, and the board authorized a $225 million share-repurchase program covering up to 2.4% of outstanding shares.
• Recent insider selling may weigh on sentiment: Executives sold 88,787 shares worth approximately $6.28 million over the past three months, including substantial sales by President Scott J. McLean.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $71.2941.

ZION has been the subject of several recent research reports. Cantor Fitzgerald lifted their price objective on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. Wells Fargo & Company increased their target price on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Robert W. Baird lifted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Finally, Citigroup boosted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, April 22nd.

Insider Transactions at Zions Bancorporation, N.A.

In other news, EVP Derek Steward sold 894 shares of the company's stock in a transaction dated 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 represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Scott J. Mclean sold 33,285 shares of the firm'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 $5,159,027.09. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 88,787 shares of company stock valued at $6,283,858 over the last three months. Company insiders own 1.43% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Elevation Wealth Partners LLC raised 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 worth $29,000 after buying an additional 349 shares in the last quarter. Torren Management LLC purchased a new position in Zions Bancorporation, N.A. during the fourth quarter worth about $32,000. Leonteq Securities AG bought a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Atlas Capital Advisors Inc. bought a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $36,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $42,000. 76.84% of the stock is owned by institutional investors.

Key Headlines Impacting Zions Bancorporation, N.A.

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

• Positive Sentiment: The bank raised its quarterly dividend to $0.48 per share from $0.45, implying an annualized payout of $1.92 and a yield of approximately 2.7%. The board has also authorized a $225 million share-repurchase program, which could support per-share value. Zions Bancorporation dividend and insider transaction report
• Neutral Sentiment: Analyst opinion remains mixed. ZION has a consensus rating of Hold, with an average price target of $71.29, while some firms recently raised targets and maintained positive ratings. Institutional investors own approximately 76.8% of the stock. Zions Bancorporation analyst and institutional ownership data
• Negative Sentiment: President Scott J. McLean sold a combined 83,285 shares in transactions dated August 3–4 for roughly $5.89 million. The sales reduced his holdings substantially, including decreases of 58.73%, 20.23% and 31.30% in the reported positions. Zions executive sells approximately $5.9 million in shares
• Negative Sentiment: EVP Scott Law separately sold 4,608 shares at an average price of $72.42, worth approximately $333,711, reducing his direct ownership by 12.29%. Multiple senior-executive sales in a short period may weigh on investor sentiment, even though insider sales can also reflect diversification or personal financial planning. Zions EVP Scott Law insider sale

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $70.58 on Friday. The company has a market capitalization of $10.38 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.71 and a beta of 0.81. The business has a fifty day simple moving average of $68.22 and a two-hundred day simple moving average of $62.86. 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. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, August 13th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.'s payout ratio is presently 22.93%.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share repurchase plan on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company's commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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