Truist Financial Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $72.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price increased by investment analysts at Truist Financial from $66.00 to $72.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective points to a potential upside of 2.04% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Citigroup raised their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their price target on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday. Barclays increased their price target on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. Robert W. Baird restated a “neutral” rating and set a $68.00 price objective on shares of Zions Bancorporation, N.A. in a research report on Tuesday, June 23rd. Finally, Stephens started coverage on shares of Zions Bancorporation, N.A. in a report on Monday, June 15th. They issued an “overweight” rating and a $79.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.18.

Zions Bancorporation, N.A. Stock Up 0.8%

Shares of Zions Bancorporation, N.A. stock traded up $0.54 during trading hours on Friday, reaching $70.56. 305,196 shares of the company were exchanged, compared to its average volume of 1,718,673. The firm has a market cap of $10.38 billion, a PE ratio of 10.97, a PEG ratio of 1.64 and a beta of 0.80. The stock’s fifty day moving average is $64.74 and its 200 day moving average is $61.32. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $71.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83.

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

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZION. Royal Bank of Canada boosted its stake in shares of Zions Bancorporation, N.A. by 76.3% during the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after buying an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Zions Bancorporation, N.A. by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after acquiring an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Zions Bancorporation, N.A. by 0.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after acquiring an additional 2,659 shares during the period. Focus Partners Wealth grew its stake in shares of Zions Bancorporation, N.A. by 91.7% in the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 10,283 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Zions Bancorporation, N.A. by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock valued at $94,000 after purchasing an additional 625 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.