Zions Bancorporation, N.A. (NASDAQ:ZION – Free Report) had its target price reduced by Stephens from $82.00 to $80.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.
Several other brokerages also recently commented on ZION. Piper Sandler lowered their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Wells Fargo & Company raised their target price on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. TD Cowen boosted their price target on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday. Barclays upped their price target on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada increased their price objective on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a report on Tuesday. Six 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. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of “Hold” and a consensus target price of $71.29.
View Our Latest Report on ZION
Zions Bancorporation, N.A. Trading Down 1.3%
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (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 firm 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. Research analysts anticipate that Zions Bancorporation, N.A. will post 6.56 EPS for the current fiscal year.
Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock repurchase plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.4% 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.
Zions Bancorporation, N.A. Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s payout ratio is presently 22.93%.
Insider Activity
In related news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is owned by corporate insiders.
Institutional Trading of Zions Bancorporation, N.A.
Several large investors have recently bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in shares of Zions Bancorporation, N.A. by 17.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank’s stock worth $3,190,000 after acquiring an additional 6,700 shares during the period. Arista Wealth Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at approximately $230,000. Everhart Financial Group Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $224,000. Beacon Investment Advisory Services Inc. boosted its position in shares of Zions Bancorporation, N.A. by 12.6% during the second quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank’s stock valued at $892,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its stake in Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares during the period. 76.84% of the stock is owned by institutional investors.
Zions Bancorporation, N.A. News Summary
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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