Zions Bancorporation, N.A. (NASDAQ:ZION) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Zions Bancorporation, N.A. has received a consensus rating of "Hold" from analysts, with one sell rating, fourteen hold ratings, four buy ratings, and one strong buy rating.
• The company reported $1.58 earnings per share (EPS) for the last quarter, exceeding the consensus estimate of $1.31 by $0.27, with a revenue of $838 million.
• Zions Bancorporation, N.A. has declared an increased quarterly dividend of $0.45, representing a 3.2% yield, up from the previous dividend of $0.43.

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) have been given an average recommendation of "Hold" by the nineteen analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $60.9474.

ZION has been the subject of several research reports. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada raised their price target on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. DA Davidson raised their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $224,000. Principal Financial Group Inc. lifted its position in shares of Zions Bancorporation, N.A. by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank's stock worth $16,956,000 after buying an additional 1,561 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $3,383,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth approximately $1,261,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Zions Bancorporation, N.A. by 6.2% during the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank's stock worth $2,401,000 after buying an additional 2,821 shares in the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Down 0.8%

Shares of ZION traded down $0.45 during trading hours on Tuesday, hitting $58.70. The stock had a trading volume of 3,450,966 shares, compared to its average volume of 1,307,616. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $55.53 and a 200-day simple moving average of $50.67. The firm has a market capitalization of $8.67 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.31 by $0.27. The company had revenue of $838.00 million during the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same period last year, the business posted $1.28 EPS. Sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

About Zions Bancorporation, N.A.

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.