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

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective boosted by Barclays from $59.00 to $61.00 in a research note published on Wednesday,Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other research analysts also recently weighed in on ZION. Compass Point raised their price target on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, January 7th. Robert W. Baird lifted their target price on 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. Finally, UBS Group started coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.71.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $58.64 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.81. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 3.10 and a beta of 1.12. Zions Bancorporation, National Association has a one year low of $37.76 and a one year high of $63.22. The stock’s 50-day moving average is $57.16 and its 200-day moving average is $52.07.

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

Zions Bancorporation, National Association Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were 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 yield of 2.93%. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 34.75%.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,881 shares of company stock valued at $1,108,184. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in Zions Bancorporation, National Association during the 3rd quarter worth $28,000. Abich Financial Wealth Management LLC increased its stake in shares of 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 valued at $61,000 after buying an additional 296 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Zions Bancorporation, National Association by 209.1% in the third quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock valued at $117,000 after buying an additional 1,671 shares during the period. Brooklyn Investment Group acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter worth approximately $119,000. Finally, TD Private Client Wealth LLC grew its holdings in Zions Bancorporation, National Association by 15.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank’s stock worth $134,000 after acquiring 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.