Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $52.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price cut by Truist Financial from $54.00 to $52.00 in a report issued on Friday, Benzinga reports. They currently have a hold rating on the bank’s stock.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a hold rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company reduced their price target on Zions Bancorporation, National Association from $52.00 to $50.00 and set an equal weight rating for the company in a report on Wednesday, August 21st. Stephens lifted their price target on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Zions Bancorporation, National Association from a sell rating to a hold rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley boosted their target price on shares of Zions Bancorporation, National Association from $42.00 to $54.00 and gave the stock an underweight rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of Hold and a consensus price target of $48.72.

Zions Bancorporation, National Association Stock Down 1.4 %

ZION opened at $47.30 on Friday. Zions Bancorporation, National Association has a one year low of $28.90 and a one year high of $53.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $6.98 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. The business’s 50-day simple moving average is $47.98 and its 200-day simple moving average is $44.33.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. The company had revenue of $776.00 million for the quarter, compared to the consensus estimate of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. Zions Bancorporation, National Association’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted $1.11 EPS. Analysts anticipate that Zions Bancorporation, National Association will post 4.52 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.41 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.47%. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the transaction, the executive vice president now owns 24,640 shares in the company, valued at $1,275,859.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total value of $99,262.26. Following the sale, the executive vice president now directly owns 24,640 shares in the company, valued at approximately $1,275,859.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the transaction, the vice president now directly owns 17,857 shares in the company, valued at approximately $925,528.31. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock worth $3,476,298 in the last 90 days. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZION. CVA Family Office LLC raised its holdings in shares of Zions Bancorporation, National Association by 1.0% during the first quarter. CVA Family Office LLC now owns 24,783 shares of the bank’s stock worth $1,076,000 after acquiring an additional 245 shares in the last quarter. Strategic Advocates LLC increased its position in Zions Bancorporation, National Association by 6.1% in the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock worth $223,000 after purchasing an additional 296 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Zions Bancorporation, National Association by 26.4% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 8.3% during the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock valued at $170,000 after buying an additional 299 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 1.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock valued at $1,174,000 after buying an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.