Truist Financial Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective increased by equities research analysts at Truist Financial from $52.00 to $57.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s target price points to a potential upside of 1.42% from the company’s current price.

Several other analysts have also weighed in on ZION. JPMorgan Chase & Co. boosted their target price on shares of Zions Bancorporation, N.A. from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 1st. Jefferies Financial Group initiated coverage on Zions Bancorporation, N.A. in a research note on Wednesday, May 21st. They issued an “underperform” rating and a $40.00 target price for the company. Morgan Stanley dropped their price target on Zions Bancorporation, N.A. from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Argus upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Monday, April 28th. Finally, Royal Bank Of Canada cut their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $57.50.

Zions Bancorporation, N.A. Trading Down 0.2%

Shares of ZION stock opened at $56.20 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.71. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The firm’s 50 day moving average price is $49.56 and its two-hundred day moving average price is $50.73. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. The firm had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $792.49 million. During the same quarter in the prior year, the business earned $0.96 EPS. On average, analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Zions Bancorporation, N.A. by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 151,515 shares of the bank’s stock worth $8,220,000 after buying an additional 864 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $4,237,000. Raymond James Financial Inc. bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $7,739,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Zions Bancorporation, N.A. by 12.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,062 shares of the bank’s stock worth $2,011,000 after buying an additional 4,007 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $150,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.