Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Increased to $66.00 by Analysts at Truist Financial

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) had its price objective hoisted by Truist Financial from $60.00 to $66.00 in a research note published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the bank’s stock.

Several other research firms also recently issued reports on ZION. The Goldman Sachs Group decreased their price objective on shares of Zions Bancorporation, National Association from $75.00 to $61.50 and set a neutral rating on the stock in a report on Tuesday, May 31st. B. Riley reduced their target price on shares of Zions Bancorporation, National Association from $60.00 to $55.00 in a research report on Wednesday, July 27th. Wedbush increased their target price on shares of Zions Bancorporation, National Association from $59.00 to $65.00 and gave the company an outperform rating in a research report on Wednesday, July 27th. Barclays reduced their target price on shares of Zions Bancorporation, National Association from $81.00 to $71.00 and set an equal weight rating for the company in a research report on Wednesday, July 27th. Finally, Piper Sandler reduced their target price on shares of Zions Bancorporation, National Association to $66.00 in a research report on Monday, July 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of Hold and an average target price of $65.38.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION opened at $57.96 on Wednesday. The company’s fifty day moving average price is $54.80 and its 200 day moving average price is $57.75. Zions Bancorporation, National Association has a 1 year low of $47.92 and a 1 year high of $75.44. The company has a market capitalization of $8.72 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 2.51 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.70 and a current ratio of 0.70.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The bank reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.06). Zions Bancorporation, National Association had a return on equity of 13.53% and a net margin of 29.21%. During the same quarter in the previous year, the company earned $2.08 EPS. On average, research analysts predict that Zions Bancorporation, National Association will post 5.94 earnings per share for the current year.

Zions Bancorporation, National Association declared that its board has approved a stock buyback plan on Friday, July 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the bank to buy up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 18th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Wednesday, August 17th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.38. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 30.65%.

Insider Activity

In other news, VP Mark Richard Young sold 4,775 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $56.34, for a total value of $269,023.50. Following the completion of the transaction, the vice president now owns 11,646 shares of the company’s stock, valued at $656,135.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Terry Alan Shirey sold 4,448 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $56.40, for a total value of $250,867.20. Following the completion of the transaction, the executive vice president now owns 21,469 shares in the company, valued at $1,210,851.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark Richard Young sold 4,775 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $56.34, for a total transaction of $269,023.50. Following the completion of the transaction, the vice president now owns 11,646 shares of the company’s stock, valued at approximately $656,135.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,666 shares of company stock valued at $722,270. 1.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZION. AlphaCrest Capital Management LLC lifted its stake in Zions Bancorporation, National Association by 21.8% in the fourth quarter. AlphaCrest Capital Management LLC now owns 7,549 shares of the bank’s stock worth $477,000 after acquiring an additional 1,352 shares during the last quarter. HighTower Advisors LLC lifted its stake in Zions Bancorporation, National Association by 8.0% in the fourth quarter. HighTower Advisors LLC now owns 16,669 shares of the bank’s stock worth $1,053,000 after acquiring an additional 1,228 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Zions Bancorporation, National Association by 19.5% during the fourth quarter. Teacher Retirement System of Texas now owns 31,169 shares of the bank’s stock worth $1,969,000 after purchasing an additional 5,096 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Zions Bancorporation, National Association during the fourth quarter worth approximately $5,867,000. Finally, Rhumbline Advisers raised its holdings in Zions Bancorporation, National Association by 0.8% during the fourth quarter. Rhumbline Advisers now owns 357,166 shares of the bank’s stock worth $22,559,000 after purchasing an additional 2,821 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Zions Bancorporation, National Association Company Profile

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Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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Analyst Recommendations for Zions Bancorporation, National Association (NASDAQ:ZION)

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