Citigroup Raises Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $52.00

Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) had its price target upped by Citigroup from $48.00 to $52.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the bank's stock.

A number of other equities research analysts have also recently commented on ZION. Truist Financial began coverage on Zions Bancorporation, N.A. in a research note on Tuesday, May 13th. They set a "hold" rating and a $52.00 price objective for the company. Stephens decreased their price objective on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Royal Bank Of Canada decreased their price objective on Zions Bancorporation, N.A. from $63.00 to $53.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods decreased their price objective on Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $57.22.

Zions Bancorporation, N.A. Trading Up 0.2%

Shares of NASDAQ ZION traded up $0.10 during midday trading on Wednesday, hitting $54.87. The stock had a trading volume of 1,082,797 shares, compared to its average volume of 1,561,905. The company's 50-day simple moving average is $48.53 and its 200 day simple moving average is $50.69. The firm has a market cap of $8.10 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.81 and a beta of 0.90. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.83 and a quick ratio of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $795.00 million during the quarter, compared to analysts' expectations 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 period last year, the firm earned $0.96 EPS. Research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The company 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 of this dividend was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.13%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 33.59%.

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

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 285,588 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Zions Bancorporation, N.A. by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock worth $351,027,000 after acquiring an additional 233,252 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Zions Bancorporation, N.A. by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank's stock worth $264,902,000 after acquiring an additional 194,995 shares during the last quarter. LSV Asset Management raised its position in shares of Zions Bancorporation, N.A. by 3.7% during the first quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock worth $189,022,000 after acquiring an additional 136,870 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Zions Bancorporation, N.A. by 326.4% during the first 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 last quarter. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Company Profile

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.