Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $73.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective boosted by Wells Fargo & Company from $66.00 to $73.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler lowered their target price on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Truist Financial raised their price target on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Barclays lifted their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. DA Davidson upped their price objective on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stephens dropped their target price on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Stock Down 1.3%

ZION opened at $69.16 on Tuesday. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.83. The firm’s fifty day moving average price is $66.52 and its two-hundred day moving average price is $62.14. The company has a market capitalization of $10.17 billion, a P/E ratio of 8.81, a P/E/G ratio of 1.66 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. During the same quarter in the previous year, the firm posted $1.13 EPS. On average, analysts anticipate that Zions Bancorporation, N.A. will post 6.56 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $0.45 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. Zions Bancorporation, N.A.’s payout ratio is 22.93%.

Zions Bancorporation, N.A. declared that its board has approved a share buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after purchasing an additional 56,438 shares during the last quarter. LSV Asset Management grew its holdings in shares of Zions Bancorporation, N.A. by 1.3% during the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after purchasing an additional 48,346 shares during the last quarter. Morgan Stanley grew its holdings in shares of Zions Bancorporation, N.A. by 10.8% during the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after purchasing an additional 306,717 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after buying an additional 711,218 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Zions Bancorporation, N.A. by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after buying an additional 30,881 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Key Zions Bancorporation, N.A. News

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Several analysts reiterated upbeat views on Zions, with Wells Fargo, RBC, DA Davidson, and TD Cowen all cited as expecting meaningful upside in the stock, reinforcing a generally favorable broader sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
• Positive Sentiment: Robert W. Baird raised its price target on Zions to $75, signaling confidence in further upside from current levels. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
• Positive Sentiment: TipRanks highlighted Zions’ earnings call as showing resilient growth, which supports the bank’s fundamental story following its recent quarterly report. Zions Bancorporation Earnings Call Signals Resilient Growth
• Neutral Sentiment: Zions remains a value-name candidate in Zacks’ long-term stock screen, which may help investor interest but is not a near-term catalyst. Why Zions (ZION) is a Top Value Stock for the Long-Term
• Negative Sentiment: Evercore downgraded Zions from “outperform” to “in-line” and set a $68 target, slightly below the current share price, which appears to be the main reason for the stock’s weakness. Read More
• Negative Sentiment: Reports of the shares gapping down on the downgrade suggest traders are reacting quickly to the more cautious Evercore call. Zions Bancorporation, N.A. Shares Gap Down on Analyst Downgrade

Zions Bancorporation, N.A. Company Profile

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.