Zions Bancorporation, National Association (NASDAQ:ZION) Receives $61.18 Average Price Target from Analysts

Zions Bancorporation, National Association (NASDAQ:ZION) has been given a consensus recommendation of “Hold” by the nineteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.94.

A number of research analysts recently weighed in on ZION shares. DA Davidson raised their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Morgan Stanley lowered their price objective on 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. Keefe, Bruyette & Woods lifted their target price on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, January 7th. Finally, Compass Point increased their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction on 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 in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock valued at $1,839,686 over the last ninety days. 2.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of large investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Zions Bancorporation, National Association in the third quarter worth about $583,000. Fisher Asset Management LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth approximately $389,000. Strategic Financial Concepts LLC purchased a new position in Zions Bancorporation, National Association during the 4th quarter valued at $2,538,000. State Street Corp grew its position in Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after acquiring an additional 896,889 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Zions Bancorporation, National Association by 244.8% in the fourth quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock worth $1,541,000 after purchasing an additional 20,167 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $49.86 on Tuesday. The business has a fifty day simple moving average of $53.50 and a two-hundred day simple moving average of $53.80. The firm has a market capitalization of $7.36 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.61 and a beta of 1.10. 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 has a 12 month low of $39.05 and a 12 month high of $63.22.

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

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

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced 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 3.45%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

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.