TD Cowen Cuts Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $63.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective reduced by TD Cowen from $64.00 to $63.00 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the bank’s stock.

ZION has been the topic of several other reports. Zacks Research downgraded Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Piper Sandler decreased their price objective on Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Evercore ISI downgraded Zions Bancorporation, N.A. from an “outperform” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Tuesday. Cantor Fitzgerald started coverage on shares of Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They issued an “overweight” rating and a $64.00 target price on the stock. Finally, Morgan Stanley increased their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.16.

Zions Bancorporation, N.A. Trading Down 1.0%

NASDAQ ZION opened at $60.23 on Wednesday. The firm’s fifty day simple moving average is $55.78 and its 200-day simple moving average is $55.19. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $61.57. The company has a market capitalization of $8.89 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. The company had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%. As a group, sell-side analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a $0.45 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the transaction, the executive vice president owned 27,133 shares of the company’s stock, valued at approximately $1,441,033.63. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Zions Bancorporation, N.A. during the fourth quarter worth $14,458,000. Assenagon Asset Management S.A. bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $9,951,000. Diversified Trust Co. bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $378,000. Silvia Mccoll Wealth Management LLC acquired a new position in Zions Bancorporation, N.A. during the fourth quarter worth $206,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Zions Bancorporation, N.A. by 4.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 62,599 shares of the bank’s stock worth $3,816,000 after purchasing an additional 2,431 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Company Profile

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.