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

Key Points

• Zions Bancorporation currently has an average analyst rating of "Hold" from 20 brokerages, with a consensus 12-month price target of about $68.18.
• The bank recently beat quarterly earnings expectations, reporting $1.56 EPS versus $1.43 expected, while revenue also came in slightly above forecasts at $859 million.
• Zions also announced a quarterly dividend of $0.45 per share and a $225 million share buyback program, signaling continued capital returns to shareholders.

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) have been given an average rating of "Hold" by the twenty brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $68.1765.

ZION has been the subject of several recent research reports. Weiss Ratings raised Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Wells Fargo & Company upped their target price on shares of Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Piper Sandler reduced their target price on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Truist Financial raised their price target on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Royal Bank Of Canada boosted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 21st.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is owned by company insiders.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in shares of Zions Bancorporation, N.A. by 5.2% in the 1st quarter. Bessemer Group Inc. now owns 3,159 shares of the bank's stock worth $182,000 after acquiring an additional 157 shares during the last quarter. Signaturefd LLC boosted its position in shares of Zions Bancorporation, N.A. by 17.1% during the 4th quarter. Signaturefd LLC now owns 1,192 shares of the bank's stock valued at $70,000 after acquiring an additional 174 shares during the last quarter. Michels Family Financial LLC boosted its position in shares of Zions Bancorporation, N.A. by 1.5% during the 4th quarter. Michels Family Financial LLC now owns 12,142 shares of the bank's stock valued at $711,000 after acquiring an additional 185 shares during the last quarter. C M Bidwell & Associates Ltd. grew its holdings in shares of Zions Bancorporation, N.A. by 13.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank's stock valued at $91,000 after purchasing an additional 185 shares during the period. Finally, Alta Capital Management LLC grew its holdings in shares of Zions Bancorporation, N.A. by 0.7% in the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank's stock valued at $1,630,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION opened at $70.66 on Monday. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $71.26. The stock has a 50 day moving average of $64.90 and a two-hundred day moving average of $61.39. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a market cap of $10.39 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter last year, the business posted $1.13 earnings per share. On average, analysts expect that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.'s payout ratio is currently 27.99%.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a stock buyback program on Saturday, May 2nd that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Company Profile

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.

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