In yesterday’s Wall Street session, Zions Bancorporation National Association (NASDAQ:ZION) shares traded at $36.13, down -2.59% from the previous session.
As of this writing, 23 analysts cover Zions Bancorporation National Association (NASDAQ:ZION). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $27.00, we find $37.00. Given the previous closing price of $37.09, this indicates a potential downside of -0.24 percent. ZION stock price is now 3.81% away from the 50-day moving average and -4.47% away from the 200-day moving average. The market capitalization of the company currently stands at $5.19B.
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There are 13 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $37.39 as their price target over the next twelve months.
With the price target maintained at $39, JP Morgan recently Downgraded its rating from Overweight to Neutral for Zions Bancorporation National Association (NASDAQ: ZION).
In other news, Huang Claire A, Director bought 18,000 shares of the company’s stock on May 04. The stock was bought for $360,378 at an average price of $20.02. Upon completion of the transaction, the Director now directly owns 18,000 shares in the company, valued at $0.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 04, Executive Vice President Robinson Rebecca K bought 10,000 shares of the business’s stock. A total of $203,780 was incurred on buying the stock at an average price of $20.38. This leaves the insider owning 10,360 shares of the company worth $0.37 million. Insiders disposed of 100,211 shares of company stock worth roughly $3.62 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ZION stock. A new stake in Zions Bancorporation National Association shares was purchased by FULLER & THALER ASSET MANAGEMENT, INC. during the first quarter worth $71,901,000. RENAISSANCE TECHNOLOGIES LLC invested $24,272,000 in shares of ZION during the first quarter. In the first quarter, LOS ANGELES CAPITAL MANAGEMENT LLC acquired a new stake in Zions Bancorporation National Association valued at approximately $11,033,000. PRINCIPAL STREET PARTNERS, LLC acquired a new stake in ZION for approximately $5,109,000. SIENA CAPITAL PARTNERS GP, LLC purchased a new stake in ZION valued at around $3,660,000 in the second quarter. In total, there are 641 active investors with 85.20% ownership of the company’s stock.
Wednesday morning saw Zions Bancorporation National Association (NASDAQ: ZION) opened at $37.41. During the past 12 months, Zions Bancorporation National Association has had a low of $18.26 and a high of $59.75. The fifty day moving average price for ZION is $34.96 and a two-hundred day moving average price translates $37.74 for the stock.
The latest earnings results from Zions Bancorporation National Association (NASDAQ: ZION) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at $1.11, inline with analysts’ expectations of $1.11. This compares to $1.29 EPS in the same period last year. The net profit margin was 24.60% and return on equity was 18.50% for ZION. The company reported revenue of $977.0 million for the quarter, compared to $608.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 60.69 percent. For the current quarter, analysts expect ZION to generate $765.34M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/24/2023. Investors who held shares on 08/17/2023 were paid a $0.41 dividend. On an annualized basis, this represents a $1.64 dividend and a 4.54% percent yield. There was an ex-dividend date of 08/16/2023 for this dividend. In terms of dividend payout ratio, ZION is presently at 28.80%.
Zions Bancorporation National Association(ZION) Company Profile
Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services. The company was formerly known as ZB, National Association and changed its name to Zions Bancorporation, National Association in September 2018. Zions Bancorporation, National Association was founded in 1873 and is headquartered in Salt Lake City, Utah.
