Zions Bancorporation, N.A. (NASDAQ:ZION) Receives Average Recommendation of “Hold” from Analysts
by Tristan Rich · The Markets DailyShares of Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) have been given an average recommendation of “Hold” by the twenty-three ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $61.35.
Several brokerages recently weighed in on ZION. JPMorgan Chase & Co. increased their target price on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Baird R W raised Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. UBS Group lowered their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a research note on Monday. Finally, TD Cowen started coverage on shares of Zions Bancorporation, N.A. in a research report on Thursday, September 25th. They issued a “hold” rating and a $64.00 price target on the stock.
View Our Latest Stock Analysis on ZION
Zions Bancorporation, N.A. Price Performance
NASDAQ ZION opened at $58.54 on Thursday. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $60.77. The company has a fifty day simple moving average of $54.69 and a 200 day simple moving average of $54.66. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. The company has a market cap of $8.64 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.97 and a beta of 0.88.
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last released its earnings results on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. The firm had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. On average, sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.
Zions Bancorporation, N.A. Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, November 13th. Zions Bancorporation, N.A.’s payout ratio is currently 32.26%.
Insider Buying and Selling
In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 2,458 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $53.11, for a total value of $130,544.38. Following the completion of the sale, the executive vice president owned 27,133 shares in the company, valued at approximately $1,441,033.63. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.22% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Zions Bancorporation, N.A. by 326.4% during the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock worth $139,927,000 after buying an additional 2,194,514 shares in the last quarter. Norges Bank bought a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $80,883,000. Allianz Asset Management GmbH boosted its position in shares of Zions Bancorporation, N.A. by 168.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,209,455 shares of the bank’s stock valued at $62,819,000 after acquiring an additional 758,855 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Zions Bancorporation, N.A. in the second quarter valued at about $32,008,000. Finally, Balyasny Asset Management L.P. bought a new stake in Zions Bancorporation, N.A. in the second quarter valued at about $31,224,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.
About Zions Bancorporation, N.A.
Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.
The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.
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