Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $72.00 at Truist Financial

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target hoisted by Truist Financial from $66.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

ZION has been the topic of a number of other reports. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. TD Cowen increased their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. Finally, Barclays raised 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 report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.18.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $70.66 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $71.26. The business has a 50 day simple moving average of $64.90 and a 200-day simple moving average of $61.38.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period last year, the business posted $1.13 earnings per share. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current year.

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

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 27.99%.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Zions Bancorporation, N.A. by 0.8% in the first 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 in the last quarter. LSV Asset Management lifted its position in shares of Zions Bancorporation, N.A. by 1.3% during the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after acquiring an additional 48,346 shares during the last quarter. Morgan Stanley boosted its stake in shares of Zions Bancorporation, N.A. by 10.8% during the 4th 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 in the last quarter. AQR Capital Management LLC boosted its stake in shares of Zions Bancorporation, N.A. by 31.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after acquiring an additional 711,218 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Zions Bancorporation, N.A. by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock worth $173,501,000 after acquiring an additional 30,881 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Company Profile

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.