Truist Financial Trims Zions Bancorporation, National Association (NASDAQ:ZION) Target Price to $57.00

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) had its target price reduced by equities research analysts at Truist Financial from $60.00 to $57.00 in a report released on Friday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 20.30% from the company’s current price.

ZION has been the subject of a number of other research reports. Keefe, Bruyette & Woods lowered shares of Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $77.00 to $72.00 in a research report on Thursday, October 6th. Wedbush cut their target price on shares of Zions Bancorporation, National Association from $61.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, October 25th. Compass Point cut their target price on shares of Zions Bancorporation, National Association to $60.00 in a research report on Thursday, October 20th. Morgan Stanley began coverage on shares of Zions Bancorporation, National Association in a report on Monday. They issued an “equal weight” rating and a $65.00 price target on the stock. Finally, Piper Sandler lowered their price target on shares of Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus price target of $61.97.

Zions Bancorporation, National Association Price Performance

ZION opened at $47.38 on Friday. The firm has a market cap of $7.09 billion, a P/E ratio of 8.94, a PEG ratio of 1.71 and a beta of 1.16. The firm has a 50-day moving average of $50.76 and a 200 day moving average of $53.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.72 and a current ratio of 0.72. Zions Bancorporation, National Association has a fifty-two week low of $45.97 and a fifty-two week high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last issued its earnings results on Monday, October 24th. The bank reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.18). The business had revenue of $838.00 million for the quarter, compared to the consensus estimate of $816.01 million. Zions Bancorporation, National Association had a return on equity of 14.98% and a net margin of 26.92%. Zions Bancorporation, National Association’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. On average, research analysts expect that Zions Bancorporation, National Association will post 5.63 EPS for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has approved a share repurchase plan on Friday, October 28th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 0.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 2,378 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $52.05, for a total transaction of $123,774.90. Following the transaction, the vice president now directly owns 15,172 shares in the company, valued at $789,702.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 2,378 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $52.05, for a total transaction of $123,774.90. Following the transaction, the vice president now directly owns 15,172 shares in the company, valued at $789,702.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas E. Laursen sold 880 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $51.79, for a total transaction of $45,575.20. Following the transaction, the vice president now owns 27,007 shares in the company, valued at $1,398,692.53. The disclosure for this sale can be found here. Insiders have sold 18,032 shares of company stock worth $905,391 over the last ninety days. Insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZION. Envestnet Asset Management Inc. grew its holdings in shares of Zions Bancorporation, National Association by 51.4% in the first quarter. Envestnet Asset Management Inc. now owns 42,243 shares of the bank’s stock worth $2,769,000 after purchasing an additional 14,340 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Zions Bancorporation, National Association by 165.8% in the first quarter. Commonwealth Equity Services LLC now owns 22,504 shares of the bank’s stock worth $1,475,000 after purchasing an additional 14,037 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Zions Bancorporation, National Association by 68.3% in the first quarter. Advisor Group Holdings Inc. now owns 44,508 shares of the bank’s stock worth $2,694,000 after purchasing an additional 18,060 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Zions Bancorporation, National Association by 2.6% in the first quarter. M&T Bank Corp now owns 8,007 shares of the bank’s stock worth $526,000 after purchasing an additional 204 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Zions Bancorporation, National Association by 37.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 41,206 shares of the bank’s stock valued at $2,701,000 after acquiring an additional 11,185 shares in the last quarter. 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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