Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 1-Year High After Analyst Upgrade

Shares of Zions Bancorporation, National Association (NASDAQ:ZION) hit a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $56.00 to $61.00. Evercore ISI currently has an outperform rating on the stock. Zions Bancorporation, National Association traded as high as $53.82 and last traded at $53.79, with a volume of 153515 shares. The stock had previously closed at $52.13.

A number of other equities research analysts have also weighed in on ZION. Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. Compass Point lifted their target price on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group decreased their target price on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $53.12.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction on 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 $1,321,210.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.22% of the stock is owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Several large investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in Zions Bancorporation, National Association by 10.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,909 shares of the bank’s stock valued at $255,000 after purchasing an additional 450 shares during the last quarter. US Bancorp DE grew its stake in Zions Bancorporation, National Association by 4.1% during the 3rd quarter. US Bancorp DE now owns 16,350 shares of the bank’s stock valued at $772,000 after purchasing an additional 649 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Zions Bancorporation, National Association by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,158 shares of the bank’s stock valued at $810,000 after purchasing an additional 1,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Zions Bancorporation, National Association by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock valued at $1,947,000 after purchasing an additional 348 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Zions Bancorporation, National Association by 11.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,035 shares of the bank’s stock valued at $4,183,000 after buying an additional 9,393 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Up 1.5 %

The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.82 and a beta of 1.09. The company has a fifty day moving average price of $48.41 and a 200-day moving average price of $45.74. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued 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 business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm posted $1.13 EPS. As a group, research analysts expect that Zions Bancorporation, National Association will post 4.75 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.10%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 37.36%.

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.