Zions Bancorporation NA (ZION) Given Consensus Rating of “Buy” by Brokerages

Zions Bancorporation NA (NASDAQ:ZION) has been assigned a consensus rating of “Buy” from the twenty research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $56.00.

A number of equities research analysts have weighed in on ZION shares. Zacks Investment Research raised Zions Bancorporation NA from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Wednesday, October 24th. ValuEngine raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Robert W. Baird raised Zions Bancorporation NA from an “underperform” rating to a “neutral” rating and set a $49.00 target price for the company in a research report on Tuesday, October 23rd. Raymond James decreased their target price on Zions Bancorporation NA from $62.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Finally, Deutsche Bank decreased their target price on Zions Bancorporation NA from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd.

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In other news, General Counsel Thomas E. Laursen sold 1,237 shares of the business’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $48.47, for a total value of $59,957.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dianne R. James sold 1,935 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $49.72, for a total value of $96,208.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,587 shares of company stock valued at $1,199,723. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Smith Asset Management Group LP acquired a new position in Zions Bancorporation NA during the 4th quarter valued at about $27,000. CSat Investment Advisory L.P. increased its position in Zions Bancorporation NA by 97.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 754 shares of the bank’s stock valued at $31,000 after buying an additional 373 shares in the last quarter. Doyle Wealth Management acquired a new position in Zions Bancorporation NA during the 4th quarter valued at about $33,000. JOYN Advisors Inc. increased its position in Zions Bancorporation NA by 2,100.0% during the 4th quarter. JOYN Advisors Inc. now owns 836 shares of the bank’s stock valued at $34,000 after buying an additional 798 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new position in Zions Bancorporation NA during the 4th quarter valued at about $61,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

ZION traded up $0.56 during trading hours on Wednesday, reaching $51.28. 1,856,007 shares of the company’s stock traded hands, compared to its average volume of 2,750,227. Zions Bancorporation NA has a 52-week low of $38.08 and a 52-week high of $59.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market cap of $9.75 billion, a P/E ratio of 12.57, a PEG ratio of 1.40 and a beta of 1.51.

Zions Bancorporation NA (NASDAQ:ZION) last issued its earnings results on Tuesday, January 22nd. The bank reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $712.48 million. Zions Bancorporation NA had a return on equity of 12.57% and a net margin of 29.14%. During the same period in the previous year, the company posted $0.80 EPS. Equities analysts anticipate that Zions Bancorporation NA will post 4.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 21st. Stockholders of record on Thursday, February 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, February 13th. Zions Bancorporation NA’s payout ratio is 29.41%.

About Zions Bancorporation NA

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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