Piper Sandler Cuts Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target cut by Piper Sandler from $65.00 to $62.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other analysts have also weighed in on the company. Citigroup increased their price target on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. TD Cowen boosted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada increased their target price on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 21st. Weiss Ratings lowered shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 12th. Finally, Evercore lifted their price target on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus price target of $62.79.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION opened at $58.13 on Thursday. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 1.47 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85. The business has a 50 day simple moving average of $58.64 and a 200-day simple moving average of $56.79. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $66.18.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is 30.00%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 2,089 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $62.48, for a total value of $130,520.72. Following the transaction, the executive vice president directly owned 22,733 shares in the company, valued at approximately $1,420,357.84. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Derek Steward sold 769 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $60.46, for a total transaction of $46,493.74. Following the completion of the transaction, the executive vice president directly owned 14,307 shares in the company, valued at $865,001.22. This represents a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 55,581 shares of company stock valued at $3,498,774. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several large investors have recently added to or reduced their stakes in ZION. Thrivent Financial for Lutherans grew its stake in Zions Bancorporation, N.A. by 6.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock worth $115,483,000 after purchasing an additional 122,815 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Zions Bancorporation, N.A. during the 3rd quarter valued at $934,000. Bailard Inc. purchased a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth $487,000. Gateway Investment Advisers LLC lifted its holdings in shares of Zions Bancorporation, N.A. by 156.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock worth $4,857,000 after buying an additional 52,381 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Zions Bancorporation, N.A. by 39.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,763 shares of the bank’s stock worth $5,079,000 after buying an additional 25,292 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.