Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $66.00 Price Target at Wells Fargo & Company

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price hoisted by Wells Fargo & Company from $63.00 to $66.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Several other research analysts have also recently issued reports on the company. Brean Capital started coverage on Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Morgan Stanley increased their price target on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Barclays lifted their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their target price on shares of Zions Bancorporation, N.A. from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $68.00 target price on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.82.

Zions Bancorporation, N.A. Trading Down 0.0%

NASDAQ:ZION opened at $70.57 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $71.26. The company has a market cap of $10.38 billion, a PE ratio of 10.98, a PEG ratio of 2.22 and a beta of 0.80. The firm has a 50-day moving average of $64.29 and a 200-day moving average of $61.10.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same quarter last year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 6.48 EPS for the current fiscal year.

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

Zions Bancorporation, N.A. Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 27.99%.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several institutional investors have recently added to or reduced their stakes in ZION. Torren Management LLC bought a new stake in Zions Bancorporation, N.A. in the fourth quarter worth about $32,000. Leonteq Securities AG purchased a new position in Zions Bancorporation, N.A. in the fourth quarter valued at about $32,000. Community Bank N.A. bought a new position in shares of Zions Bancorporation, N.A. during the 3rd quarter valued at approximately $36,000. Atlas Capital Advisors Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at approximately $36,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $42,000. 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.