Zions Bancorporation, N.A. (NASDAQ:ZION – Free Report) had its target price raised by Robert W. Baird from $68.00 to $75.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.
Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Barclays lifted 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. Morgan Stanley boosted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. 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, Piper Sandler decreased their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.29.
Read Our Latest Analysis on ZION
Zions Bancorporation, N.A. Trading Down 1.3%
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping the consensus estimate 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 13.72% and a net margin of 23.92%.During the same quarter last year, the company earned $1.13 earnings per share. On average, research analysts predict that Zions Bancorporation, N.A. will post 6.56 earnings per share for the current fiscal year.
Zions Bancorporation, N.A. declared that its Board of Directors has initiated 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Zions Bancorporation, N.A. Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 22.93%.
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 on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.43% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Zions Bancorporation, N.A.
Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after buying an additional 56,438 shares during the period. LSV Asset Management grew its holdings in Zions Bancorporation, N.A. by 1.3% during the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after acquiring an additional 48,346 shares during the period. Morgan Stanley grew its holdings in Zions Bancorporation, N.A. by 10.8% during the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after acquiring an additional 306,717 shares during the period. AQR Capital Management LLC raised its position in Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after acquiring an additional 711,218 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Zions Bancorporation, N.A. by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after acquiring an additional 30,881 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.
Trending Headlines about Zions Bancorporation, N.A.
Here are the key news stories impacting Zions Bancorporation, N.A. this week:
- Positive Sentiment: Several analysts reiterated upbeat views on Zions, with Wells Fargo, RBC, DA Davidson, and TD Cowen all cited as expecting meaningful upside in the stock, reinforcing a generally favorable broader sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
- Positive Sentiment: Robert W. Baird raised its price target on Zions to $75, signaling confidence in further upside from current levels. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
- Positive Sentiment: TipRanks highlighted Zions’ earnings call as showing resilient growth, which supports the bank’s fundamental story following its recent quarterly report. Zions Bancorporation Earnings Call Signals Resilient Growth
- Neutral Sentiment: Zions remains a value-name candidate in Zacks’ long-term stock screen, which may help investor interest but is not a near-term catalyst. Why Zions (ZION) is a Top Value Stock for the Long-Term
- Negative Sentiment: Evercore downgraded Zions from “outperform” to “in-line” and set a $68 target, slightly below the current share price, which appears to be the main reason for the stock’s weakness. Read More
- Negative Sentiment: Reports of the shares gapping down on the downgrade suggest traders are reacting quickly to the more cautious Evercore call. Zions Bancorporation, N.A. Shares Gap Down on Analyst Downgrade
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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