Zions Bancorporation, N.A. (NASDAQ:ZION) Hits New 12-Month High – Time to Buy?

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) hit a new 52-week high during trading on Tuesday . The company traded as high as $62.49 and last traded at $61.8070, with a volume of 303840 shares trading hands. The stock had previously closed at $60.99.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ZION shares. Citigroup boosted their target price on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Stephens lifted their target price on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. UBS Group lowered their price objective on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Barclays increased their target price on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Finally, Piper Sandler upped their price target on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.16.

Zions Bancorporation, N.A. Price Performance

The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 10.27 and a beta of 0.85. The business has a 50 day simple moving average of $58.42 and a 200-day simple moving average of $55.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 12th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 30.00%.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Zions Bancorporation, N.A. by 76.3% during the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after acquiring an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Zions Bancorporation, N.A. by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after buying an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Zions Bancorporation, N.A. by 0.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after buying an additional 2,659 shares during the period. Focus Partners Wealth grew its position in shares of Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 10,283 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $814,000. 76.84% of the stock is owned by institutional investors.

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.