Zions Bancorporation, National Association (NASDAQ:ZION) Now Covered by Truist Financial

Truist Financial began coverage on shares of Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a "hold" rating and a $52.00 price target on the bank's stock. Truist Financial's price objective suggests a potential upside of 5.65% from the stock's previous close.

A number of other brokerages also recently issued reports on ZION. Argus raised Zions Bancorporation, National Association from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a report on Monday, April 28th. Morgan Stanley lowered their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada decreased their price objective on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird reduced their target price on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price objective on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $58.47.

Zions Bancorporation, National Association Stock Up 0.3%

Shares of ZION stock traded up $0.16 during mid-day trading on Tuesday, hitting $49.22. 759,674 shares of the stock traded hands, compared to its average volume of 1,582,373. The stock has a market cap of $7.26 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.61 and a beta of 0.88. The stock's fifty day moving average is $46.48 and its two-hundred day moving average is $52.87. Zions Bancorporation, National Association has a 52-week low of $39.32 and a 52-week high of $63.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same quarter in the prior year, the company earned $0.96 EPS. Equities analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the transaction, the executive vice president now owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZION. Global Financial Private Client LLC grew its stake in Zions Bancorporation, National Association by 1.3% in the fourth quarter. Global Financial Private Client LLC now owns 33,501 shares of the bank's stock valued at $1,817,000 after purchasing an additional 429 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in Zions Bancorporation, National Association by 1.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock valued at $937,000 after purchasing an additional 249 shares in the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth about $257,000. Delta Capital Management LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth about $242,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth about $201,000. 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.