Wells Fargo & Company Raises Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $54.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective raised by Wells Fargo & Company from $50.00 to $54.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other equities research analysts have also recently issued reports on ZION. Stephens lifted 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 research report on Tuesday. Compass Point boosted their price target on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price target on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday. Wedbush boosted their price target on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group boosted 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. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.82.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION opened at $52.18 on Tuesday. The company has a market capitalization of $7.71 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.84. Zions Bancorporation, National Association has a 1-year low of $28.90 and a 1-year high of $53.32. The firm’s 50 day simple moving average is $47.97 and its two-hundred day simple moving average is $45.42.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $1.13 earnings per share. Research analysts expect that Zions Bancorporation, National Association will post 4.6 EPS 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 paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio is currently 37.36%.

Insider Activity

In other news, VP Bruce K. Alexander sold 5,156 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now directly owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

A number of hedge funds have recently added to or reduced their stakes in ZION. CVA Family Office LLC raised its holdings in Zions Bancorporation, National Association by 0.9% in the third quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock worth $1,191,000 after purchasing an additional 217 shares in the last quarter. Strategic Advocates LLC raised its holdings in Zions Bancorporation, National Association by 6.1% in the second quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock worth $223,000 after purchasing an additional 296 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Zions Bancorporation, National Association by 26.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Zions Bancorporation, National Association by 8.3% during the second quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock valued at $170,000 after acquiring an additional 299 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Zions Bancorporation, National Association by 1.2% during the second quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock valued at $1,174,000 after acquiring an additional 327 shares in the last quarter. 76.84% of the stock is 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.