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

Key Points

• Zions Bancorporation has a consensus analyst rating of "Hold", based on coverage from 20 analysts. The average 1-year price target is about $65.53.
• The bank beat quarterly earnings estimates, reporting EPS of $1.56 versus the expected $1.43, on revenue of $859 million. It also raised its profile with a $225 million share buyback authorization and a quarterly dividend of $0.45 per share.
• Recent stock activity included an insider sale by EVP Jennifer Anne Smith and a purchase by CEO Harris H. Simmons, while institutional investors continue to hold a large stake, owning 76.84% of the company.

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) have earned an average rating of "Hold" from the twenty analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $65.5294.

A number of brokerages recently issued reports on ZION. Truist Financial upped their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday, April 21st. Weiss Ratings raised Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Citigroup upped their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Piper Sandler lowered their price target on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Finally, Brean Capital initiated coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a "neutral" rating for the company.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $62.12 on Friday. The stock has a 50 day moving average price of $59.58 and a 200 day moving average price of $58.39. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. Zions Bancorporation, N.A. has a 52-week low of $45.52 and a 52-week high of $66.18.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million during 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 period in the prior year, the company posted $1.13 earnings per share. Research analysts predict that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.'s dividend payout ratio is presently 27.99%.

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity at Zions Bancorporation, N.A.

In other 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harris H. Simmons acquired 4,500 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average cost of $59.03 per share, with a total value of $265,635.00. Following the completion of the acquisition, the chief executive officer directly owned 1,317,493 shares of the company's stock, valued at approximately $77,771,611.79. This trade represents a 0.34% increase in their position. The SEC filing for this purchase provides additional information. 1.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several large investors have recently modified their holdings of ZION. Torren Management LLC purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $32,000. Leonteq Securities AG purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $36,000. Community Bank N.A. purchased a new position in Zions Bancorporation, N.A. in the third quarter worth $36,000. Finally, V Square Quantitative Management LLC purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

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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