Zions Bancorporation, National Association (NASDAQ:ZION) Receives Average Rating of “Hold” from Analysts

Shares of Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) have been given an average recommendation of “Hold” by the nineteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $64.22.

A number of equities analysts recently commented on ZION shares. Barclays reduced their price objective on shares of Zions Bancorporation, National Association from $81.00 to $71.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 27th. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $75.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, July 1st. Truist Financial reduced their price target on Zions Bancorporation, National Association to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. The Goldman Sachs Group reduced their price target on Zions Bancorporation, National Association from $75.00 to $61.50 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. Finally, Jefferies Financial Group reduced their price target on Zions Bancorporation, National Association from $69.00 to $63.00 in a research report on Monday, July 11th.

Zions Bancorporation, National Association Stock Down 0.1 %

Shares of NASDAQ ZION opened at $55.04 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.38 and a beta of 1.26. The stock has a 50 day moving average price of $53.87 and a 200 day moving average price of $58.64. Zions Bancorporation, National Association has a 52-week low of $47.92 and a 52-week high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The bank reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.06). Zions Bancorporation, National Association had a net margin of 29.21% and a return on equity of 13.53%. During the same period in the previous year, the business posted $2.08 earnings per share. Sell-side analysts expect that Zions Bancorporation, National Association will post 5.96 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has initiated a stock repurchase program on Friday, July 29th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 0.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, National Association Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 18th were paid a dividend of $0.41 per share. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, August 17th. Zions Bancorporation, National Association’s dividend payout ratio is presently 30.65%.

Insider Transactions at Zions Bancorporation, National Association

In other news, VP Mark Richard Young sold 3,443 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $58.78, for a total transaction of $202,379.54. Following the sale, the vice president now directly owns 8,860 shares of the company’s stock, valued at approximately $520,790.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Mark Richard Young sold 3,443 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $58.78, for a total transaction of $202,379.54. Following the completion of the transaction, the vice president now owns 8,860 shares in the company, valued at approximately $520,790.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Terry Alan Shirey sold 4,448 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $56.40, for a total transaction of $250,867.20. Following the transaction, the executive vice president now owns 21,469 shares of the company’s stock, valued at approximately $1,210,851.60. The disclosure for this sale can be found here. Insiders have sold a total of 12,666 shares of company stock valued at $722,270 in the last ninety days. 1.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in Zions Bancorporation, National Association by 4.5% in the 1st quarter. Victory Capital Management Inc. now owns 7,459,316 shares of the bank’s stock valued at $486,109,000 after acquiring an additional 322,397 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Zions Bancorporation, National Association by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,275,610 shares of the bank’s stock worth $280,322,000 after buying an additional 43,151 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Zions Bancorporation, National Association by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,250,628 shares of the bank’s stock worth $216,356,000 after buying an additional 596,753 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Zions Bancorporation, National Association by 0.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,047,881 shares of the bank’s stock worth $155,137,000 after buying an additional 16,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Zions Bancorporation, National Association by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,041,099 shares of the bank’s stock worth $199,375,000 after buying an additional 101,901 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Zions Bancorporation, National Association Company Profile

(Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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Analyst Recommendations for Zions Bancorporation, National Association (NASDAQ:ZION)

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