Zions Bancorporation, National Association (NASDAQ:ZION) Given New $64.00 Price Target at Stephens

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective boosted by Stephens from $62.00 to $64.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Several other analysts have also commented on ZION. DA Davidson raised their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial lifted their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped 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 report on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI upped their price target on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. 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 Stock Performance

ZION opened at $58.09 on Wednesday. The firm has a fifty day moving average price of $57.21 and a 200 day moving average price of $51.92. Zions Bancorporation, National Association has a 1 year low of $37.76 and a 1 year high of $63.22. The stock has a market cap of $8.58 billion, a P/E ratio of 13.23, a P/E/G ratio of 3.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787,704.90 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate 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 declared 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. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.96%. Zions Bancorporation, National Association’s payout ratio is presently 34.75%.

Insider Buying and Selling

In other news, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares in the company, valued at $5,265,325.92. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the sale, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,321,210.44. The trade was a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,881 shares of company stock worth $1,108,184. Insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after buying an additional 896,889 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Zions Bancorporation, National Association by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock valued at $221,367,000 after purchasing an additional 140,084 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Zions Bancorporation, National Association by 25.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after purchasing an additional 538,049 shares during the period. Geode Capital Management LLC raised its position in Zions Bancorporation, National Association by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock valued at $124,592,000 after purchasing an additional 30,030 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Zions Bancorporation, National Association by 75.0% during the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after purchasing an additional 433,513 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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.