Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $59.00 at Truist Financial

Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) had its target price raised by Truist Financial from $57.00 to $59.00 in a research report sent to investors on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the bank's stock.

A number of other equities research analysts have also recently commented on the stock. Stephens dropped their price objective on shares of Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. DA Davidson lifted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and upped their price objective for the stock from $45.00 to $60.00 in a research report on Tuesday. Argus raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. lifted their price target on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION traded down $1.36 during mid-day trading on Wednesday, hitting $55.18. The company's stock had a trading volume of 2,086,935 shares, compared to its average volume of 1,535,543. The business's fifty day moving average is $51.09 and its two-hundred day moving average is $50.85. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.63 and a beta of 0.90. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. During the same quarter in the prior year, the business earned $1.28 earnings per share. Analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $0.43 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.12%. Zions Bancorporation, N.A.'s payout ratio is currently 31.44%.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Zions Bancorporation, N.A. by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank's stock worth $1,032,775,000 after purchasing an additional 285,588 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Zions Bancorporation, N.A. by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock valued at $351,027,000 after buying an additional 233,252 shares in the last quarter. LSV Asset Management raised its holdings in shares of Zions Bancorporation, N.A. by 3.7% in the 1st quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock valued at $189,022,000 after buying an additional 136,870 shares during the period. AQR Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 326.4% during the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock worth $139,927,000 after acquiring an additional 2,194,514 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Zions Bancorporation, N.A. by 9.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,834,949 shares of the bank's stock valued at $147,247,000 after acquiring an additional 240,329 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

About Zions Bancorporation, N.A.

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.