Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $72.00 Price Target at Truist Financial

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) had its price target hoisted by research analysts at Truist Financial from $66.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s price target indicates a potential upside of 2.04% from the company’s current price.

A number of other research analysts have also weighed in on ZION. Robert W. Baird reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. Morgan Stanley upped their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Barclays increased their price target on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. Piper Sandler reduced their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Finally, DA Davidson upped their target price on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.18.

Check Out Our Latest Analysis on Zions Bancorporation, N.A.

Zions Bancorporation, N.A. Stock Performance

ZION traded up $0.54 during trading on Friday, reaching $70.56. The company’s stock had a trading volume of 305,196 shares, compared to its average volume of 1,718,673. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $71.26. The company’s fifty day moving average price is $64.74 and its 200-day moving average price is $61.32. The company has a market capitalization of $10.38 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last issued its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $859.00 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.13 EPS. On average, equities analysts forecast that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current fiscal year.

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

Insider Transactions at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’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 value of $263,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors have recently made changes to their positions in ZION. Elevation Wealth Partners LLC raised its position in Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after purchasing an additional 349 shares during the period. Torren Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $32,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Community Bank N.A. acquired a new position in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $36,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Zions Bancorporation, N.A. during the 4th quarter worth approximately $36,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Zions Bancorporation, N.A. (NASDAQ:ZION)

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