Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report)'s stock price gapped up prior to trading on Friday after Robert W. Baird upgraded the stock from a neutral rating to an outperform rating. The stock had previously closed at $46.93, but opened at $49.04. Robert W. Baird now has a $65.00 price target on the stock. Zions Bancorporation, N.A. shares last traded at $49.37, with a volume of 2,342,857 shares traded.
Several other equities research analysts have also weighed in on ZION. DA Davidson boosted their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on shares of Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They set an "overweight" rating and a $64.00 price objective for the company. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and raised their target price for the company from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Truist Financial upped their price target on shares of Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler dropped their price objective on Zions Bancorporation, N.A. from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and an average target price of $61.33.
Get Our Latest Analysis on ZION
Hedge Funds Weigh In On Zions Bancorporation, N.A.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $224,000. Principal Financial Group Inc. increased its holdings in Zions Bancorporation, N.A. by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank's stock valued at $16,956,000 after buying an additional 1,561 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $3,383,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 1st quarter worth about $1,261,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Zions Bancorporation, N.A. by 6.2% during the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank's stock valued at $2,401,000 after acquiring an additional 2,821 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.
Zions Bancorporation, N.A. Stock Performance
The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $7.25 billion, a P/E ratio of 9.02, a PEG ratio of 1.15 and a beta of 0.93. The stock's 50 day moving average is $55.91 and its two-hundred day moving average is $51.50.
Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The company had revenue of $705.00 million for the quarter. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.
Zions Bancorporation, N.A. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.'s dividend payout ratio is currently 32.91%.
About Zions Bancorporation, N.A.
(
Get Free Report)
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.
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