Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Zions Bancorporation, National Association (NASDAQ:ZION) Stock

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target raised by Keefe, Bruyette & Woods from $65.00 to $70.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other research analysts have also weighed in on ZION. Truist Financial increased their target price on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Stephens boosted their price objective on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. UBS Group began coverage on shares of Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price on the stock. Finally, Robert W. Baird raised their price target on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.71.

Zions Bancorporation, National Association Trading Up 1.1 %

Shares of ZION stock opened at $58.64 on Wednesday. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 3.10 and a beta of 1.12. Zions Bancorporation, National Association has a twelve month low of $37.76 and a twelve month high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $57.16 and a 200 day moving average price of $52.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787,704.90 billion. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. Research analysts forecast that Zions Bancorporation, National Association will post 4.96 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.43 dividend. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s payout ratio is presently 34.75%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association 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 sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. The trade was a 15.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the transaction, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. The trade was a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,881 shares of company stock valued at $1,108,184 over the last three months. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Zions Bancorporation, National Association in the third quarter worth approximately $28,000. Abich Financial Wealth Management LLC boosted its stake in shares of Zions Bancorporation, National Association by 26.4% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after acquiring an additional 296 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Zions Bancorporation, National Association by 209.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after acquiring an additional 1,671 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Zions Bancorporation, National Association during the third quarter worth $119,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Zions Bancorporation, National Association by 15.2% during the third 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 last quarter. 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.