Zions Bancorporation, N.A. (NASDAQ:ZION) Receives $61.45 Average PT from Analysts

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) have been given a consensus recommendation of “Hold” by the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $61.45.

Several analysts have weighed in on ZION shares. Royal Bank Of Canada lifted their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Truist Financial lifted their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a research report on Wednesday, October 8th. Finally, TD Cowen began coverage on Zions Bancorporation, N.A. in a research report on Thursday, September 25th. They issued a “hold” rating and a $64.00 price target on the stock.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock opened at $53.84 on Friday. The stock’s 50 day simple moving average is $55.89 and its two-hundred day simple moving average is $51.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.11 and a beta of 0.93. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. The business had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. As a group, analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s payout ratio is presently 32.91%.

Institutional Trading of Zions Bancorporation, N.A.

A number of hedge funds have recently made changes to their positions in ZION. AQR Capital Management LLC boosted its position in shares of Zions Bancorporation, N.A. by 326.4% in the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock worth $139,927,000 after purchasing an additional 2,194,514 shares in the last quarter. Norges Bank bought a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $80,883,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Zions Bancorporation, N.A. by 57.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank’s stock worth $106,368,000 after purchasing an additional 778,861 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Zions Bancorporation, N.A. by 168.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,209,455 shares of the bank’s stock worth $62,819,000 after purchasing an additional 758,855 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $32,008,000. 76.84% of the stock is owned by institutional investors.

About Zions Bancorporation, N.A.

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.