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

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) has earned a consensus rating of "Hold" from the eighteen analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $57.94.

Several brokerages have issued reports on ZION. Robert W. Baird lowered their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Zions Bancorporation, National Association in a research report on Wednesday, May 21st. They set an "underperform" rating and a $40.00 price target on the stock. Wall Street Zen cut shares of Zions Bancorporation, National Association from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Morgan Stanley lowered their price target on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Truist Financial assumed coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, May 13th. They set a "hold" rating and a $52.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of Zions Bancorporation, National Association by 326.4% in the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock worth $139,927,000 after purchasing an additional 2,194,514 shares in the last quarter. Norges Bank bought a new position in Zions Bancorporation, National Association during the fourth quarter valued at about $73,542,000. Balyasny Asset Management L.P. boosted its stake in Zions Bancorporation, National Association by 249.6% during 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 buying an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP bought a new position in Zions Bancorporation, National Association during the fourth quarter valued at about $51,116,000. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Zions Bancorporation, National Association by 57.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock valued at $106,368,000 after buying an additional 778,861 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $49.28 on Friday. 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 firm has a market cap of $7.27 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a 50 day moving average price of $45.95 and a 200-day moving average price of $51.87. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22.

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 the consensus estimate of $1.20 by $0.04. The company had revenue of $795.00 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.96 EPS. Equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a share buyback plan on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.49%. Zions Bancorporation, National Association's dividend payout ratio is presently 33.59%.

About Zions Bancorporation, National Association

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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