Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $73.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective raised by TD Cowen from $71.00 to $73.00 in a report released on Tuesday,Benzinga reports. TD Cowen currently has a hold rating on the bank’s stock.

ZION has been the topic of a number of other reports. Robert W. Baird boosted their price target on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday. Truist Financial increased their price objective on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Wells Fargo & Company lifted their target price on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. DA Davidson boosted their target price 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. Finally, Cantor Fitzgerald upped their price target on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Trading Down 1.3%

ZION opened at $69.16 on Tuesday. The stock has a market capitalization of $10.17 billion, a P/E ratio of 8.81, a P/E/G ratio of 1.66 and a beta of 0.80. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The firm’s fifty day simple moving average is $66.52 and its 200 day simple moving average is $62.14.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released 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. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The firm had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $853.73 million. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, research analysts anticipate that Zions Bancorporation, N.A. will post 6.56 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 22.93%.

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

Insider Activity

In related news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, May 8th. The stock was 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 SEC, which is available at this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Zions Bancorporation, N.A. by 76.3% in the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after buying an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Zions Bancorporation, N.A. by 18.5% during the first 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 raised 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 worth $25,172,000 after acquiring an additional 2,659 shares in the last quarter. Focus Partners Wealth raised its position in Zions Bancorporation, N.A. by 91.7% during the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after acquiring an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Zions Bancorporation, N.A. by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock valued at $94,000 after acquiring an additional 625 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

More Zions Bancorporation, N.A. News

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.