Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 52-Week High on Analyst Upgrade

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $56.00 to $61.00. Evercore ISI currently has an outperform rating on the stock. Zions Bancorporation, National Association traded as high as $53.82 and last traded at $53.79, with a volume of 153515 shares. The stock had previously closed at $52.13.

Several other brokerages also recently issued reports on ZION. StockNews.com upgraded Zions Bancorporation, National Association from a "sell" rating to a "hold" rating in a report on Tuesday, July 30th. Jefferies Financial Group decreased 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. Wolfe Research upgraded shares of Zions Bancorporation, National Association to a "hold" rating in a research note on Wednesday, September 18th. Barclays upped their target price on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an "underweight" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Zions Bancorporation, National Association from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $53.12.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction 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 of the company's stock, valued at approximately $1,321,210.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank's stock worth $271,003,000 after buying an additional 929,251 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Zions Bancorporation, National Association by 1.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,146,411 shares of the bank's stock worth $93,089,000 after acquiring an additional 22,123 shares during the period. Bank of New York Mellon Corp lifted its position in Zions Bancorporation, National Association by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank's stock valued at $74,784,000 after purchasing an additional 5,609 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in Zions Bancorporation, National Association by 9.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 1,019,182 shares of the bank's stock valued at $44,202,000 after purchasing an additional 90,234 shares during the period. Finally, AQR Capital Management LLC grew its position in Zions Bancorporation, National Association by 75.0% in the 2nd 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 during the last quarter. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, National Association Trading Up 1.5 %

The firm's 50-day simple moving average is $48.41 and its 200 day simple moving average is $45.74. The stock has a market cap of $7.82 billion, a P/E ratio of 12.06, a PEG ratio of 1.82 and a beta of 1.09. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.21. The business had revenue of $1.28 billion during 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 prior year, the company posted $1.13 EPS. As a group, equities research analysts anticipate that Zions Bancorporation, National Association will post 4.75 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 37.36%.

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.