Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $62.00 Price Target at Piper Sandler

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target reduced by Piper Sandler from $65.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other brokerages have also recently weighed in on ZION. Citigroup boosted their target price on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Truist Financial increased their price target on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Robert W. Baird upgraded Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Monday, March 9th. Barclays boosted their price objective on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. cut their target price on Zions Bancorporation, N.A. from $68.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.79.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $58.13 on Thursday. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $66.18. The firm has a market capitalization of $8.55 billion, a PE ratio of 9.69 and a beta of 0.81. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average price is $58.65 and its 200 day moving average price is $56.78.

Zions Bancorporation, N.A. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 12th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, February 12th. Zions Bancorporation, N.A.’s payout ratio is presently 30.00%.

Insider Transactions at Zions Bancorporation, N.A.

In related news, President Scott J. Mclean sold 28,980 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $61.15, for a total value of $1,772,127.00. Following the completion of the transaction, the president directly owned 82,250 shares in the company, valued at approximately $5,029,587.50. This represents a 26.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Harris H. Simmons bought 4,500 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average cost of $59.03 per share, with a total value of $265,635.00. Following the purchase, the chief executive officer owned 1,317,493 shares of the company’s stock, valued at $77,771,611.79. The trade was a 0.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 55,581 shares of company stock valued at $3,498,774 in the last ninety days. 2.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently bought and sold shares of ZION. Royal Bank of Canada increased its position 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 valued at $6,853,000 after acquiring an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Zions Bancorporation, N.A. by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $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 holdings in shares of Zions Bancorporation, N.A. by 0.5% in 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 last quarter. Focus Partners Wealth boosted its position in shares of Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after purchasing an additional 10,283 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Zions Bancorporation, N.A. by 15.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 79,417 shares of the bank’s stock valued at $4,124,000 after purchasing an additional 10,901 shares during the last quarter. 76.84% of the stock is currently 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.