Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $62.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target upped by Wells Fargo & Company from $54.00 to $62.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

Several other equities research analysts have also issued reports on the stock. Stephens increased their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group lowered their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Keefe, Bruyette & Woods boosted their price objective on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reduced their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.59.

Zions Bancorporation, National Association Trading Down 0.2 %

Shares of ZION stock traded down $0.09 on Friday, reaching $59.51. 1,095,824 shares of the stock were exchanged, compared to its average volume of 1,628,661. The stock has a market cap of $8.79 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 5.27 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $50.44 and a two-hundred day moving average of $47.04. Zions Bancorporation, National Association has a 1-year low of $33.66 and a 1-year high of $61.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.13 EPS. On average, research analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.89%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is presently 39.18%.

Insider Transactions at Zions Bancorporation, National Association

In other news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,228 shares of company stock valued at $519,048. Insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter worth approximately $28,000. ORG Partners LLC bought a new stake in Zions Bancorporation, National Association in the second quarter valued at $33,000. International Assets Investment Management LLC acquired a new position in shares of Zions Bancorporation, National Association during the second quarter valued at $34,000. Rothschild Investment LLC bought a new position in shares of Zions Bancorporation, National Association during the second quarter worth about $39,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 49.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock worth $49,000 after acquiring an additional 372 shares during the period. 76.84% of the stock is currently 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.