Brokerages Set Zions Bancorporation, National Association (NASDAQ:ZION) Target Price at $60.71

Zions Bancorporation, National Association (NASDAQ:ZION) has received a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $60.71.

A number of brokerages have issued reports on ZION. JPMorgan Chase & Co. lowered their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Compass Point raised their price target on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays boosted their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd.

Zions Bancorporation, National Association Trading Down 1.9 %

ZION opened at $50.33 on Friday. The company’s 50 day moving average is $55.72 and its 200-day moving average is $53.53. The company has a market cap of $7.44 billion, a P/E ratio of 10.17, a PEG ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Equities research analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 34.75%.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,554,136.37. This represents a 17.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in shares of Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after buying an additional 183 shares during the last quarter. Covestor Ltd lifted its position in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after acquiring an additional 479 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Zions Bancorporation, National Association during the 4th quarter valued at about $62,000. Finally, Natixis bought a new stake in Zions Bancorporation, National Association during the 4th quarter worth approximately $102,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

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.