Truist Financial Boosts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $57.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price boosted by Truist Financial from $52.00 to $57.00 in a research report released on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

ZION has been the topic of several other reports. Stephens upped their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday. Evercore ISI reduced their price objective on Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada raised their target price on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.82.

Zions Bancorporation, National Association Price Performance

Shares of ZION stock opened at $51.34 on Wednesday. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.84 and a current ratio of 0.78. The stock’s 50-day simple moving average is $48.07 and its 200-day simple moving average is $45.48. Zions Bancorporation, National Association has a fifty-two week low of $28.98 and a fifty-two week high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same period in the previous year, the company earned $1.13 earnings per share. As a group, equities analysts forecast that Zions Bancorporation, National Association will post 4.6 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.19%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 41.21%.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the transaction, the vice president now owns 17,857 shares of the company’s stock, valued at $925,528.31. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Zions Bancorporation, National Association by 103.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock valued at $7,163,000 after purchasing an additional 4,993,164 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after buying an additional 929,251 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of Zions Bancorporation, National Association by 165.0% in the third quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after buying an additional 563,889 shares in the last quarter. AQR Capital Management LLC boosted its position in Zions Bancorporation, National Association by 75.0% during the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after acquiring an additional 433,513 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Zions Bancorporation, National Association by 197.5% during the 1st quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock valued at $24,616,000 after acquiring an additional 376,549 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.