Wells Fargo & Company Issues Positive Forecast for Zions Bancorporation, National Association (NASDAQ:ZION) Stock Price

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price hoisted by Wells Fargo & Company from $54.00 to $62.00 in a report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other equities analysts have also issued reports on ZION. The Goldman Sachs Group raised their price target on shares of Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Compass Point lifted their target price on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Robert W. Baird lifted their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.59.

Zions Bancorporation, National Association Trading Down 0.5 %

NASDAQ ZION opened at $59.19 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 12 month low of $33.66 and a 12 month high of $61.80. The company’s 50-day moving average price is $50.72 and its 200-day moving average price is $47.24. The stock has a market cap of $8.74 billion, a PE ratio of 13.48, a PEG ratio of 5.27 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during 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 prior year, the firm posted $1.13 earnings per share. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

Insider Transactions at Zions Bancorporation, National Association

In related news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the sale, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 3,605 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $209,306.30. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,434,894.84. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,228 shares of company stock worth $519,048 in the last three months. 2.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC boosted its position in Zions Bancorporation, National Association by 15.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank’s stock valued at $134,000 after purchasing an additional 375 shares during the period. Coldstream Capital Management Inc. raised its stake in Zions Bancorporation, National Association by 9.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,802 shares of the bank’s stock valued at $426,000 after acquiring an additional 768 shares in the last quarter. Geode Capital Management LLC raised its stake in Zions Bancorporation, National Association by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock valued at $124,592,000 after acquiring an additional 30,030 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Zions Bancorporation, National Association by 2.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 56,660 shares of the bank’s stock valued at $2,675,000 after acquiring an additional 1,523 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Zions Bancorporation, National Association during the 3rd quarter valued at $1,081,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association 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.