Zions Bancorporation, National Association (NASDAQ:ZION) Rating Increased to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) from a neutral rating to a buy rating in a research report released on Tuesday morning, Marketbeat reports. The firm currently has $71.00 target price on the bank’s stock.

Other research analysts also recently issued research reports about the company. Compass Point increased their price target on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their price target on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. Wedbush increased their price objective 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. Evercore ISI increased their price objective on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group began coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association presently has an average rating of “Hold” and an average price target of $58.25.

Zions Bancorporation, National Association Stock Down 1.0 %

Shares of NASDAQ:ZION opened at $54.87 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $8.10 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 5.10 and a beta of 1.12. Zions Bancorporation, National Association has a 1 year low of $37.76 and a 1 year high of $63.22. The business has a fifty day moving average price of $57.16 and a two-hundred day moving average price of $50.97.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same quarter in the prior year, the company earned $1.13 EPS. 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 was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 3.13%. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the transaction, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the transaction, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Institutional investors have recently modified their holdings of the company. Neville Rodie & Shaw Inc. bought a new position in Zions Bancorporation, National Association during the 4th quarter worth approximately $477,000. Nordea Investment Management AB grew its position in Zions Bancorporation, National Association by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 225,840 shares of the bank’s stock worth $12,306,000 after acquiring an additional 13,329 shares during the last quarter. GAMMA Investing LLC grew its position in Zions Bancorporation, National Association by 4.4% during the 4th quarter. GAMMA Investing LLC now owns 9,514 shares of the bank’s stock worth $516,000 after acquiring an additional 403 shares during the last quarter. Franklin Resources Inc. grew its position in Zions Bancorporation, National Association by 13.6% during the 3rd quarter. Franklin Resources Inc. now owns 203,567 shares of the bank’s stock worth $10,195,000 after acquiring an additional 24,414 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Zions Bancorporation, National Association during the 3rd quarter worth approximately $226,000. 76.84% of the stock is currently owned by 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.