Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $68.00
by Teresa Graham · The Cerbat GemZions Bancorporation, N.A. (NASDAQ:ZION – Free Report) had its target price boosted by Barclays from $61.00 to $68.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.
A number of other equities research analysts also recently weighed in on ZION. Cantor Fitzgerald started coverage on shares of Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $64.00 price target on the stock. TD Cowen initiated coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, September 25th. They issued a “hold” rating and a $64.00 target price on the stock. Morgan Stanley raised their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their price target on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Finally, Piper Sandler dropped their price target on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.16.
Get Our Latest Report on Zions Bancorporation, N.A.
Zions Bancorporation, N.A. Trading Down 1.3%
Shares of NASDAQ:ZION opened at $60.15 on Monday. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $61.20. The company has a market capitalization of $8.88 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 0.98 and a beta of 0.85. The company has a 50-day simple moving average of $55.44 and a 200 day simple moving average of $55.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82.
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last issued its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%.The company had revenue of $705.00 million during the quarter. Sell-side analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.
Zions Bancorporation, N.A. Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, November 13th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 32.26%.
Insider Activity
In related news, EVP Jennifer Anne Smith sold 2,458 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the sale, the executive vice president directly owned 27,133 shares in the company, valued at approximately $1,441,033.63. The trade was a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.22% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Sagespring Wealth Partners LLC bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at about $234,000. Avior Wealth Management LLC purchased a new position in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $761,000. GAMMA Investing LLC increased its holdings in Zions Bancorporation, N.A. by 6.1% during the 4th quarter. GAMMA Investing LLC now owns 11,214 shares of the bank’s stock worth $656,000 after acquiring an additional 647 shares during the period. Hudson Bay Capital Management LP bought a new stake in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $6,722,000. Finally, IFP Advisors Inc lifted its stake in Zions Bancorporation, N.A. by 565.0% in the 3rd quarter. IFP Advisors Inc now owns 2,793 shares of the bank’s stock worth $163,000 after purchasing an additional 2,373 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.
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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