Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $66.61 and last traded at $66.2160, with a volume of 287798 shares traded. The stock had previously closed at $64.83.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price 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. Citigroup increased their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Truist Financial raised their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. Barclays boosted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 22nd. Finally, DA Davidson raised their price target on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.53.
Read Our Latest Research Report on Zions Bancorporation, N.A.
Zions Bancorporation, N.A. Trading Up 0.9%
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last posted its earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same period last year, the firm posted $1.13 EPS. On average, equities analysts predict that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.
Zions Bancorporation, N.A. Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 27.99%.
Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share repurchase plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling
In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The stock was 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 SEC, which is available at the SEC website. 1.43% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Zions Bancorporation, N.A.
A number of institutional investors have recently modified their holdings of the business. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 4th quarter worth $32,000. Leonteq Securities AG acquired a new position in Zions Bancorporation, N.A. in the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. acquired a new position in Zions Bancorporation, N.A. in the fourth quarter valued at $36,000. Community Bank N.A. purchased a new stake in shares of Zions Bancorporation, N.A. in the third quarter valued at about $36,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $42,000. 76.84% of the stock is owned by institutional investors and hedge funds.
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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