Zions Bancorporation, National Association (NASDAQ:ZION) Given Average Rating of "Hold" by Brokerages

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) has been given an average recommendation of "Hold" by the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $58.47.

A number of equities research analysts recently issued reports on ZION shares. DA Davidson boosted their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Truist Financial started coverage on shares of Zions Bancorporation, National Association in a report on Tuesday. They issued a "hold" rating and a $52.00 target price for the company. Morgan Stanley lowered their target price on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Stephens lowered their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Barclays boosted their target price on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a report on Wednesday, January 22nd.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION opened at $49.92 on Wednesday. The company has a market cap of $7.37 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a 12 month low of $39.32 and a 12 month high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day simple moving average of $46.42 and a 200-day simple moving average of $52.94.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, equities analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its board has approved a share repurchase program on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.45%. Zions Bancorporation, National Association's payout ratio is currently 33.59%.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the sale, the executive vice president now directly owns 29,313 shares of the company's stock, valued at $1,655,305.11. This represents a 43.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.22% of the company's stock.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors have recently added to or reduced their stakes in ZION. Norges Bank acquired a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $73,542,000. Balyasny Asset Management L.P. raised its holdings in Zions Bancorporation, National Association by 249.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock valued at $88,130,000 after acquiring an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $51,116,000. Boston Partners acquired a new stake in Zions Bancorporation, National Association in the fourth quarter valued at $33,961,000. Finally, GAMMA Investing LLC raised its holdings in Zions Bancorporation, National Association by 5,690.4% in the first quarter. GAMMA Investing LLC now owns 550,903 shares of the bank's stock valued at $27,468,000 after acquiring an additional 541,389 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association 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.

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