Zions Bancorporation, National Association (NASDAQ:ZION) Receives $45.67 Consensus Price Target from Analysts

Shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) have been given an average rating of “Hold” by the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.37.

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Zions Bancorporation, National Association from $56.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Royal Bank of Canada dropped their price objective on Zions Bancorporation, National Association from $47.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 20th. The Goldman Sachs Group reduced their target price on Zions Bancorporation, National Association from $58.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, March 30th. Argus dropped their price target on Zions Bancorporation, National Association from $65.00 to $43.00 in a research note on Monday, April 24th. Finally, Morgan Stanley reduced their price objective on shares of Zions Bancorporation, National Association from $59.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 5th.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $28.09 on Friday. The stock’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $42.28. Zions Bancorporation, National Association has a 52-week low of $18.26 and a 52-week high of $59.75. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $4.16 billion, a P/E ratio of 4.79, a P/E/G ratio of 5.12 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last announced its quarterly earnings data on Wednesday, April 19th. The bank reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.18). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $844.33 million. Zions Bancorporation, National Association had a return on equity of 19.48% and a net margin of 24.41%. During the same quarter in the prior year, the company earned $1.27 EPS. As a group, sell-side analysts forecast that Zions Bancorporation, National Association will post 5.18 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 18th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Wednesday, May 17th. Zions Bancorporation, National Association’s payout ratio is currently 27.99%.

Insider Buying and Selling

In other news, President Scott J. Mclean bought 37,000 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were purchased at an average cost of $27.44 per share, with a total value of $1,015,280.00. Following the acquisition, the president now directly owns 104,540 shares in the company, valued at $2,868,577.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zions Bancorporation, National Association news, President Scott J. Mclean bought 37,000 shares of Zions Bancorporation, National Association stock in a transaction on Friday, April 28th. The shares were purchased at an average price of $27.44 per share, with a total value of $1,015,280.00. Following the acquisition, the president now owns 104,540 shares in the company, valued at approximately $2,868,577.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Harris H. Simmons purchased 20,000 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average cost of $24.16 per share, with a total value of $483,200.00. Following the acquisition, the chief executive officer now directly owns 1,274,990 shares in the company, valued at approximately $30,803,758.40. The disclosure for this purchase can be found here. Insiders bought 105,000 shares of company stock valued at $2,611,040 over the last quarter. 1.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Zions Bancorporation, National Association by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,943,882 shares of the bank’s stock valued at $1,014,347,000 after purchasing an additional 902,141 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Zions Bancorporation, National Association by 5.4% in the 1st quarter. BlackRock Inc. now owns 10,413,388 shares of the bank’s stock valued at $311,673,000 after acquiring an additional 533,520 shares during the last quarter. State Street Corp boosted its holdings in shares of Zions Bancorporation, National Association by 14.9% during the 1st quarter. State Street Corp now owns 8,262,892 shares of the bank’s stock valued at $247,308,000 after acquiring an additional 1,069,816 shares in the last quarter. LSV Asset Management grew its position in Zions Bancorporation, National Association by 16.2% during the 4th quarter. LSV Asset Management now owns 4,719,478 shares of the bank’s stock worth $232,010,000 after acquiring an additional 656,756 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Zions Bancorporation, National Association by 3.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,413,092 shares of the bank’s stock worth $224,450,000 after purchasing an additional 162,464 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Zions Bancorporation, National Association Company Profile

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.