Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Truist Financial Analyst Says

Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) had its target price hoisted by Truist Financial from $52.00 to $57.00 in a report released on Friday morning,Benzinga reports. The firm currently has a hold rating on the bank's stock.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. upped their target price on Zions Bancorporation, N.A. from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Robert W. Baird dropped their target price on Zions Bancorporation, N.A. from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Argus upgraded 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 report on Monday, April 28th. Morgan Stanley dropped their target price on Zions Bancorporation, N.A. from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Stephens lowered their price objective on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Zions Bancorporation, N.A. presently has an average rating of "Hold" and a consensus price target of $57.50.

Zions Bancorporation, N.A. Stock Down 0.2%

Shares of ZION traded down $0.10 during mid-day trading on Friday, hitting $56.20. 1,306,048 shares of the company traded hands, compared to its average volume of 1,556,307. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $8.29 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.83 and a beta of 0.90. The business has a 50 day moving average of $49.56 and a 200 day moving average of $50.76.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid 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 3.06%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 33.59%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZION. AQR Capital Management LLC raised its holdings in shares of 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 during the period. Norges Bank acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $73,542,000. Balyasny Asset Management L.P. increased its position in shares of Zions Bancorporation, N.A. by 249.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank's stock worth $88,130,000 after purchasing an additional 1,159,888 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $51,116,000. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Zions Bancorporation, N.A. by 57.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock worth $106,368,000 after purchasing an additional 778,861 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

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.