Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $68.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective boosted by Robert W. Baird from $65.00 to $68.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

Several other research firms have also recently issued reports on ZION. Weiss Ratings raised Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. TD Cowen increased their price target on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. Citigroup increased their price target on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Evercore increased their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Finally, Royal Bank Of Canada increased their price target on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.94.

Zions Bancorporation, N.A. Stock Performance

ZION stock opened at $62.63 on Tuesday. The stock has a market capitalization of $9.21 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. Zions Bancorporation, N.A. has a 12-month low of $43.64 and a 12-month high of $66.18. The company has a current ratio of 0.83, a quick ratio of 0.85 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $58.55 and its 200 day simple moving average is $57.20.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period in the prior year, the firm posted $1.13 EPS. As a group, research analysts forecast that Zions Bancorporation, N.A. will post 6.37 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 27.99%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 6,558 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $64.80, for a total value of $424,958.40. Following the completion of the sale, the executive vice president directly owned 18,761 shares in the company, valued at $1,215,712.80. This represents a 25.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Harris H. Simmons acquired 4,500 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, February 24th. The stock was bought at an average price of $59.03 per share, with a total value of $265,635.00. Following the completion of the purchase, the chief executive officer directly owned 1,317,493 shares in the company, valued at $77,771,611.79. This represents a 0.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 55,581 shares of company stock worth $3,498,774. Insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several hedge funds and other institutional investors have recently modified their holdings of ZION. Norges Bank purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth $105,700,000. Balyasny Asset Management L.P. increased its stake in shares of Zions Bancorporation, N.A. by 1,270.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock worth $67,145,000 after purchasing an additional 1,063,303 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth $32,008,000. Finally, FIL Ltd increased its stake in shares of Zions Bancorporation, N.A. by 117.6% in the 4th quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after purchasing an additional 601,610 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Zions Bancorporation, N.A. News

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: DA Davidson raised its price target to $78 and kept a buy rating, signaling a sizable upside view and driving buying interest. DA Davidson raises PT to $78
• Positive Sentiment: Royal Bank of Canada lifted its price target to $68, reflecting increased conviction in ZION’s outlook. Royal Bank Of Canada Raises Zions Bancorporation, N.A. Price Target to $68.00
• Positive Sentiment: TD Cowen boosted its price target to $65, adding to the wave of analyst upgrades supporting the stock. TD Cowen Boosts Zions Bancorporation, N.A. Price Target to $65.00
• Positive Sentiment: JPMorgan published a bullish forecast for strong price appreciation in ZION, reinforcing institutional confidence. JPMorgan Forecasts Strong Price Appreciation for Zions
• Positive Sentiment: Robert W. Baird said ZION’s stock price is expected to rise, adding another favorable analyst voice. Robert W. Baird Analyst Says ZION Expected to Rise
• Positive Sentiment: Two Zacks pieces highlight ZION as both a top momentum and a top value stock for longer-term investors, supporting buy-side interest from style-focused funds. Why Zions (ZION) is a Top Momentum Stock for the Long-Term Why Zions (ZION) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Citigroup raised its price target to $66 but maintained a neutral rating, a mixed signal that tempers upside expectations. Citigroup raises PT to $66
• Neutral Sentiment: Barclays increased its target to $72 yet kept an underweight stance—higher target but cautious rating introduces some analyst disagreement. Barclays raises PT to $72 (underweight)

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.