Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $80.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective lifted by Cantor Fitzgerald from $69.00 to $80.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

ZION has been the subject of several other reports. TD Cowen lifted 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 report on Tuesday, April 21st. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Piper Sandler decreased their price target on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Robert W. Baird reaffirmed a “neutral” rating and set a $68.00 price target on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. Finally, Barclays upped their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.12.

Zions Bancorporation, N.A. Stock Down 1.4%

Shares of NASDAQ:ZION opened at $72.27 on Wednesday. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The firm’s 50 day moving average price is $65.74 and its 200 day moving average price is $61.80. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.80.

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

Zions Bancorporation, N.A. declared that its board has approved a share buyback plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 27.99%.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $8,591,000. Basswood Capital Management L.L.C. grew its holdings in Zions Bancorporation, N.A. by 266.4% during the fourth quarter. Basswood Capital Management L.L.C. now owns 404,520 shares of the bank’s stock worth $23,681,000 after acquiring an additional 294,121 shares during the period. Burney Co. purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $4,762,000. LSV Asset Management raised its position in Zions Bancorporation, N.A. by 1.3% in the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after acquiring an additional 48,346 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at $3,353,000. Institutional investors and hedge funds 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.