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

Shares of Zions Bancorporation, National Association (NASDAQ:ZION) have been given an average recommendation of “Hold” by the nineteen analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $61.18.

ZION has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. DA Davidson increased their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group upgraded shares of 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 report on Tuesday, January 7th. Compass Point boosted their price target on 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, Keefe, Bruyette & Woods raised their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd.

Zions Bancorporation, National Association Price Performance

Shares of ZION opened at $50.26 on Tuesday. The company’s 50-day moving average is $53.83 and its 200-day moving average is $53.62. 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 capitalization of $7.42 billion, a PE ratio of 10.15, a PEG ratio of 1.61 and a beta of 1.10. Zions Bancorporation, National Association has a fifty-two week low of $39.05 and a fifty-two week high of $63.22.

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

Zions Bancorporation, National Association Dividend Announcement

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

Zions Bancorporation, National Association announced that its board has authorized a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. This trade represents a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,713 shares of company stock valued at $1,839,686. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Zions Bancorporation, National Association by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock worth $1,032,775,000 after acquiring an additional 285,588 shares during the last quarter. State Street Corp grew its stake in shares of Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Zions Bancorporation, National Association by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank’s stock worth $369,295,000 after purchasing an additional 175,656 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Zions Bancorporation, National Association by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after purchasing an additional 194,995 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in Zions Bancorporation, National Association by 0.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock worth $146,396,000 after purchasing an additional 14,070 shares during the last quarter. Institutional investors 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.