Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $61.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price upped by Evercore ISI from $56.00 to $61.00 in a research report report published on Wednesday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other equities analysts have also recently weighed in on the company. Argus cut Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Compass Point boosted their price target on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird raised their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group raised their target price on 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. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.12.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $51.44 on Wednesday. The business has a 50 day simple moving average of $48.53 and a 200 day simple moving average of $45.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09. Zions Bancorporation, National Association has a 12-month low of $31.63 and a 12-month high of $53.85.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, topping 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 return on equity of 13.89% and a net margin of 14.09%. During the same quarter in the previous year, the company earned $1.13 earnings per share. On average, equities research analysts anticipate that Zions Bancorporation, National Association will post 4.79 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently announced 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 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 3.34%. Zions Bancorporation, National Association’s dividend payout ratio is presently 37.36%.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the sale, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,321,210.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZION. Commonwealth Equity Services LLC increased its position in shares of Zions Bancorporation, National Association by 4.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 57,497 shares of the bank’s stock valued at $2,495,000 after buying an additional 2,285 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 16.0% during the 1st quarter. HB Wealth Management LLC now owns 10,396 shares of the bank’s stock valued at $451,000 after purchasing an additional 1,432 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Zions Bancorporation, National Association by 469.8% in the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after purchasing an additional 153,387 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Zions Bancorporation, National Association by 13.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,407 shares of the bank’s stock worth $2,757,000 after purchasing an additional 8,145 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. raised its holdings in Zions Bancorporation, National Association by 12.6% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 5,612 shares of the bank’s stock worth $244,000 after buying an additional 629 shares during the period. 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.