Zions Bancorporation, N.A. (NASDAQ:ZION) Receives $60.78 Average Price Target from Brokerages

Key Points

• Zions Bancorporation, N.A. has received a consensus recommendation of "Hold" from analysts, with one sell rating, fourteen hold ratings, and four buy ratings.
• The company reported $1.58 EPS for the last quarter, exceeding the consensus estimate of $1.31, along with a revenue of $838 million, which also surpassed analyst expectations.
• Recently, Zions Bancorporation increased its quarterly dividend to $0.45 per share, representing an annualized dividend of $1.80 and a yield of 3.4%.

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) have received an average recommendation of "Hold" from the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $60.7778.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Robert W. Baird boosted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Citigroup boosted their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its position in shares of Zions Bancorporation, N.A. by 7.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,926 shares of the bank's stock valued at $152,000 after purchasing an additional 206 shares in the last quarter. Lynx Investment Advisory grew its position in Zions Bancorporation, N.A. by 3.5% in the second quarter. Lynx Investment Advisory now owns 6,371 shares of the bank's stock worth $331,000 after acquiring an additional 213 shares in the last quarter. ProShare Advisors LLC grew its position in Zions Bancorporation, N.A. by 3.9% in the second quarter. ProShare Advisors LLC now owns 6,543 shares of the bank's stock worth $340,000 after acquiring an additional 244 shares in the last quarter. Blackhawk Capital Partners LLC. grew its position in Zions Bancorporation, N.A. by 5.3% in the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after acquiring an additional 245 shares in the last quarter. Finally, Leo Wealth LLC grew its position in Zions Bancorporation, N.A. by 1.7% in the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after acquiring an additional 253 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $1.18 during mid-day trading on Friday, reaching $58.00. The company had a trading volume of 2,001,632 shares, compared to its average volume of 1,421,888. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.48 and a beta of 0.93. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $53.89 and its 200-day moving average price is $50.31.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The business had revenue of $838.00 million for the quarter, compared to analysts' expectations of $810.24 million. During the same quarter in the previous year, the firm posted $1.28 EPS. As a group, equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $0.45 per share. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 32.91%.

Zions Bancorporation, N.A. Company Profile

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.