Zions Bancorporation, N.A. (NASDAQ:ZION – Free Report) had its target price lifted by DA Davidson from $82.00 to $84.00 in a report released on Tuesday morning,Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock.
Several other analysts have also recently issued reports on the company. Piper Sandler cut their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. TD Cowen boosted their price target on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday. Morgan Stanley upped their price target on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Citigroup increased their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.29.
Read Our Latest Analysis on Zions Bancorporation, N.A.
Zions Bancorporation, N.A. Stock Down 1.3%
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The business had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. During the same period last year, the firm earned $1.13 earnings per share. On average, sell-side analysts forecast that Zions Bancorporation, N.A. will post 6.56 earnings per share for the current fiscal year.
Zions Bancorporation, N.A. Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is 22.93%.
Zions Bancorporation, N.A. declared that its board has approved a share repurchase plan on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Zions Bancorporation, N.A.
In related news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.
Hedge Funds Weigh In On Zions Bancorporation, N.A.
Several institutional investors have recently bought and sold shares of ZION. Elevation Wealth Partners LLC grew its stake in shares of Zions Bancorporation, N.A. by 528.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after buying an additional 349 shares in the last quarter. Torren Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $36,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $42,000. Institutional investors own 76.84% of the company’s stock.
More Zions Bancorporation, N.A. News
Here are the key news stories impacting Zions Bancorporation, N.A. this week:
- Positive Sentiment: Several analysts reiterated upbeat views on Zions, with Wells Fargo, RBC, DA Davidson, and TD Cowen all cited as expecting meaningful upside in the stock, reinforcing a generally favorable broader sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
- Positive Sentiment: Robert W. Baird raised its price target on Zions to $75, signaling confidence in further upside from current levels. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
- Positive Sentiment: TipRanks highlighted Zions’ earnings call as showing resilient growth, which supports the bank’s fundamental story following its recent quarterly report. Zions Bancorporation Earnings Call Signals Resilient Growth
- Neutral Sentiment: Zions remains a value-name candidate in Zacks’ long-term stock screen, which may help investor interest but is not a near-term catalyst. Why Zions (ZION) is a Top Value Stock for the Long-Term
- Negative Sentiment: Evercore downgraded Zions from “outperform” to “in-line” and set a $68 target, slightly below the current share price, which appears to be the main reason for the stock’s weakness. Read More
- Negative Sentiment: Reports of the shares gapping down on the downgrade suggest traders are reacting quickly to the more cautious Evercore call. Zions Bancorporation, N.A. Shares Gap Down on Analyst Downgrade
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.
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