Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 52-Week High - Here's Why

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $61.10 and last traded at $61.10, with a volume of 103489 shares traded. The stock had previously closed at $59.69.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Robert W. Baird raised their price target on 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. JPMorgan Chase & Co. dropped 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. Compass Point raised their price target on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Truist Financial raised their price target 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. Finally, Morgan Stanley raised their price target on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of "Hold" and a consensus target price of $53.12.

Zions Bancorporation, National Association Stock Performance

The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 5.28 and a beta of 1.07. The company has a fifty day moving average of $49.63 and a two-hundred day moving average of $46.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations 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 last year, the firm posted $1.13 EPS. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Zions Bancorporation, National Association's previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.86%. Zions Bancorporation, National Association's payout ratio is currently 37.36%.

Insider Activity

In other 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 value of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,321,210.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Jennifer Anne Smith sold 4,385 shares of the business's 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 in the company, valued at $1,321,210.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the sale, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,228 shares of company stock worth $519,048. Insiders own 2.22% of the company's stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently made changes to their positions in the stock. Townsquare Capital LLC grew its position in shares of Zions Bancorporation, National Association by 14.1% in the 3rd quarter. Townsquare Capital LLC now owns 25,980 shares of the bank's stock valued at $1,227,000 after buying an additional 3,205 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter valued at about $119,000. Quantbot Technologies LP bought a new stake in shares of Zions Bancorporation, National Association in the 3rd quarter valued at about $4,189,000. FMR LLC grew its position in shares of Zions Bancorporation, National Association by 7.2% in the 3rd quarter. FMR LLC now owns 282,205 shares of the bank's stock valued at $13,326,000 after buying an additional 19,072 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Zions Bancorporation, National Association by 5.6% in the 3rd quarter. D.A. Davidson & CO. now owns 18,179 shares of the bank's stock valued at $858,000 after buying an additional 965 shares during the last quarter. Institutional investors own 76.84% of the company's stock.

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.