Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Lowered to $68.00 at Morgan Stanley

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective reduced by Morgan Stanley from $75.00 to $68.00 in a research note released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the bank’s stock.

Other research analysts also recently issued research reports about the stock. Stephens lifted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Weiss Ratings cut shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 12th. Evercore raised their target price on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Robert W. Baird raised shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Monday, March 9th. Finally, Truist Financial upped their price target on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.21.

Zions Bancorporation, N.A. Trading Up 3.7%

Shares of NASDAQ ZION opened at $57.62 on Tuesday. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $66.18. The business has a fifty day moving average price of $58.78 and a 200 day moving average price of $56.76. The stock has a market capitalization of $8.47 billion, a P/E ratio of 9.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85.

Zions Bancorporation, N.A. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, February 12th. Zions Bancorporation, N.A.’s payout ratio is currently 30.00%.

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

In other news, VP Eric Ellingsen sold 1,519 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $61.27, for a total transaction of $93,069.13. Following the sale, the vice president directly owned 40,361 shares of the company’s stock, valued at $2,472,918.47. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 15,476 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $65.90, for a total value of $1,019,868.40. Following the completion of the transaction, the executive vice president directly owned 41,127 shares in the company, valued at approximately $2,710,269.30. The trade was a 27.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,581 shares of company stock worth $3,498,774 in the last three months. 1.43% of the stock is owned by company insiders.

Institutional Trading of Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Zions Bancorporation, N.A. by 76.3% in the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after purchasing an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after buying an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Zions Bancorporation, N.A. by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after buying an additional 2,659 shares during the last quarter. Focus Partners Wealth increased its holdings in Zions Bancorporation, N.A. by 91.7% in the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after buying an additional 10,283 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Zions Bancorporation, N.A. by 15.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 79,417 shares of the bank’s stock worth $4,124,000 after buying an additional 10,901 shares during the period. 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.