Zions Bancorporation, N.A. (NASDAQ:ZION) Reaches New 1-Year High on Analyst Upgrade

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $66.00 to $72.00. Truist Financial currently has a hold rating on the stock. Zions Bancorporation, N.A. traded as high as $71.34 and last traded at $70.84, with a volume of 724 shares trading hands. The stock had previously closed at $70.66.

Several other equities analysts have also recently weighed in on ZION. Brean Capital began coverage on shares of Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They set a “neutral” rating for the company. Stephens initiated coverage on shares of Zions Bancorporation, N.A. in a report on Monday, June 15th. They issued an “overweight” rating and a $79.00 target price for the company. Robert W. Baird restated a “neutral” rating and issued a $68.00 price target on shares of Zions Bancorporation, N.A. in a research report on Tuesday, June 23rd. Royal Bank Of Canada upped 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 research note on Tuesday, April 21st. Finally, DA Davidson increased their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.18.

Read Our Latest Analysis on ZION

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

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

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. increased its stake in shares of Zions Bancorporation, N.A. by 5.2% in the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock worth $182,000 after acquiring an additional 157 shares during the period. Signaturefd LLC raised its position in shares of Zions Bancorporation, N.A. by 17.1% in the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock worth $70,000 after acquiring an additional 174 shares during the period. Michels Family Financial LLC raised its position in shares of Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after acquiring an additional 185 shares during the period. C M Bidwell & Associates Ltd. boosted its stake in shares of Zions Bancorporation, N.A. by 13.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after acquiring an additional 185 shares in the last quarter. Finally, Alta Capital Management LLC boosted its stake in shares of Zions Bancorporation, N.A. by 0.7% during the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after acquiring an additional 203 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.69 and a beta of 0.80. The stock has a 50-day moving average price of $64.90 and a 200 day moving average price of $61.39.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last released its quarterly 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. The company had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter in the prior year, the firm posted $1.13 EPS. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 27.99%.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a stock buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Company Profile

(Get Free Report)

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.

Further Reading

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