Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $68.02 and last traded at $68.0070, with a volume of 457590 shares traded. The stock had previously closed at $67.12.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on ZION shares. Truist Financial lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. DA Davidson upped their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Royal Bank Of Canada lifted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st. Finally, Stephens began coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, June 15th. They set an “overweight” rating and a $79.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $66.35.
Read Our Latest Report on Zions Bancorporation, N.A.
Zions Bancorporation, N.A. Stock Up 1.1%
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last posted its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same quarter in the prior year, the business earned $1.13 EPS. Analysts anticipate that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.
Zions Bancorporation, N.A. Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s payout ratio is currently 27.99%.
Zions Bancorporation, N.A. announced that its Board of Directors has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at Zions Bancorporation, N.A.
In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.43% of the company’s stock.
Institutional Trading of Zions Bancorporation, N.A.
A number of hedge funds and other institutional investors have recently modified their holdings of ZION. Torren Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Leonteq Securities AG bought a new stake in Zions Bancorporation, N.A. during the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. bought a new stake in Zions Bancorporation, N.A. during the fourth quarter worth about $36,000. Community Bank N.A. bought a new stake in Zions Bancorporation, N.A. during the third quarter worth about $36,000. Finally, V Square Quantitative Management LLC purchased a new stake in Zions Bancorporation, N.A. in the fourth quarter worth about $42,000. 76.84% of the stock is owned by hedge funds and other institutional investors.
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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