Zions Bancorporation, N.A. (NASDAQ:ZION) Earns Buy Rating from Analysts at UBS Group

UBS Group began coverage on shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in a research note released on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $78.00 price objective on the bank’s stock.

ZION has been the subject of several other research reports. Stephens dropped their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. Royal Bank Of Canada boosted their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Wall Street Zen raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and an average target price of $72.53.

Zions Bancorporation, N.A. Trading Down 3.7%

Zions Bancorporation, N.A. stock opened at $65.47 on Monday. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34. The firm’s 50 day moving average price is $69.57 and its 200-day moving average price is $64.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $9.56 billion, a P/E ratio of 8.34, a PEG ratio of 1.15 and a beta of 0.78.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. Zions Bancorporation, N.A.’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, equities analysts predict that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has approved a stock repurchase program on Thursday, July 30th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the bank to repurchase up to 0.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, August 13th. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.9%. Zions Bancorporation, N.A.’s payout ratio is presently 24.46%.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other news, EVP Scott Law sold 4,608 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the sale, the executive vice president owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Scott Mclean sold 33,285 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the sale, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This trade represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 88,787 shares of company stock worth $6,283,858 over the last quarter. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Zions Bancorporation, N.A. in the 2nd quarter worth about $982,244,000. Norges Bank purchased a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $105,700,000. Bank of New York Mellon Corp purchased a new stake in Zions Bancorporation, N.A. in the 2nd quarter valued at about $87,961,000. Deutsche Bank AG bought a new position in Zions Bancorporation, N.A. in the 2nd quarter worth about $71,767,000. Finally, The Manufacturers Life Insurance Company bought a new position in Zions Bancorporation, N.A. in the 2nd quarter worth about $54,688,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides a broad range of banking and related financial services to individuals, small and midsize businesses, commercial clients, and public-sector organizations.

The company’s services include commercial and consumer lending, deposits, home loans, cash management, treasury services, wealth management, investment services, and capital markets activities.