Zions Bancorporation, N.A. (NASDAQ:ZION) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Zions Bancorporation, N.A. (NASDAQ:ZION) from a hold rating to a buy rating in a report released on Saturday.

A number of other research firms have also recently commented on ZION. Wells Fargo & Company increased their target price on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Truist Financial increased their price objective on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a report on Friday, July 10th. JPMorgan Chase & Co. downgraded Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price on the stock. in a research note on Tuesday, July 21st. DA Davidson upped their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald increased their price target on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of “Hold” and a consensus target price of $71.29.

Zions Bancorporation, N.A. Stock Performance

ZION stock opened at $70.62 on Friday. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50-day simple moving average of $68.57 and a two-hundred day simple moving average of $63.02.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, August 13th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s payout ratio is presently 22.93%.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share 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 purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the sale, the executive vice president owned 17,449 shares in the company, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott A. Law sold 4,608 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares in the company, valued at $2,381,893.80. This represents a 12.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 88,787 shares of company stock valued at $6,283,858 in the last ninety days. Company insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

A number of hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC raised its position in Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after acquiring an additional 349 shares in the last quarter. Torren Management LLC purchased a new stake in Zions Bancorporation, N.A. in the 4th quarter worth approximately $32,000. Leonteq Securities AG acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $32,000. Trust Co. of Vermont acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $35,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.