Analysts Set Zions Bancorporation, National Association (NASDAQ:ZION) Target Price at $61.18

Shares of Zions Bancorporation, National Association (NASDAQ:ZION) have earned a consensus recommendation of “Hold” from the nineteen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $60.94.

A number of equities research analysts recently issued reports on ZION shares. JPMorgan Chase & Co. lowered their price objective on 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. Barclays raised 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 report on Wednesday, January 22nd. DA Davidson boosted their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Stephens restated an “equal weight” rating and set a $64.00 target price on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. Finally, UBS Group assumed coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 29,313 shares of the company’s stock, valued at $1,655,305.11. This trade represents a 43.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s 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 directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,713 shares of company stock valued at $1,839,686 over the last three months. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZION. Norges Bank purchased a new stake in Zions Bancorporation, National Association in the fourth quarter worth $73,542,000. Balyasny Asset Management L.P. raised its holdings in Zions Bancorporation, National Association by 249.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock worth $88,130,000 after purchasing an additional 1,159,888 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Zions Bancorporation, National Association in the 4th quarter worth about $51,116,000. State Street Corp increased its position in shares of Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after buying an additional 896,889 shares during the period. Finally, Boston Partners bought a new position in Zions Bancorporation, National Association in the fourth quarter worth about $33,961,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Stock Up 0.8 %

ZION opened at $49.86 on Tuesday. Zions Bancorporation, National Association has a twelve month low of $39.05 and a twelve month high of $63.22. The company’s 50-day moving average price is $53.50 and its two-hundred day moving average price is $53.80. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 1.61 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

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, beating the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared 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 3.45%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 34.75%.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a share buyback plan on Monday, February 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.