Zions Bancorporation, National Association (NASDAQ:ZION) Receives $60.71 Average Price Target from Brokerages

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) has been assigned an average rating of "Hold" from the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research 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 1 year target price among analysts that have issued ratings on the stock in the last year is $60.71.

ZION has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on shares of Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased 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. JPMorgan Chase & Co. dropped their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, DA Davidson increased their price target 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.

Zions Bancorporation, National Association Stock Down 3.1 %

Shares of NASDAQ ZION traded down $1.70 during trading on Friday, hitting $52.35. 917,984 shares of the company traded hands, compared to its average volume of 1,263,459. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.61 and a beta of 1.11. The business's fifty day moving average is $55.90 and its 200 day moving average is $53.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a fifty-two week low of $38.74 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last posted its quarterly 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. 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 period in the prior year, the business earned $0.78 EPS. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. 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 declared that its Board of Directors has approved a share repurchase plan on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 34.75%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the firm's stock in a transaction on 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 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. This trade represents a 43.61 % decrease in their ownership of the stock. The transaction 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 Zions Bancorporation, National Association stock in a transaction on Wednesday, February 12th. The shares were 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 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 have sold 32,713 shares of company stock valued at $1,839,686 in the last 90 days. Insiders own 2.22% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZION. Raymond James & Associates lifted its holdings in shares of Zions Bancorporation, National Association by 65.0% in the third quarter. Raymond James & Associates now owns 85,285 shares of the bank's stock worth $4,027,000 after buying an additional 33,587 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Zions Bancorporation, National Association by 4,621.0% in the 3rd quarter. International Assets Investment Management LLC now owns 37,485 shares of the bank's stock worth $1,770,000 after purchasing an additional 36,691 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Zions Bancorporation, National Association by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank's stock valued at $1,947,000 after purchasing an additional 348 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Zions Bancorporation, National Association by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 17,158 shares of the bank's stock worth $810,000 after purchasing an additional 1,160 shares during the period. Finally, US Bancorp DE raised its position in shares of Zions Bancorporation, National Association by 4.1% in the third quarter. US Bancorp DE now owns 16,350 shares of the bank's stock worth $772,000 after buying an additional 649 shares in 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.