The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have $71.00 price objective on the bank's stock.
A number of other research analysts also recently issued reports on the company. Evercore ISI lifted their price target on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. 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 target price for the company. Wolfe Research upgraded shares of Zions Bancorporation, National Association to a "hold" rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Finally, Truist Financial raised their target price 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. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $58.25.
Read Our Latest Report on Zions Bancorporation, National Association
Zions Bancorporation, National Association Stock Up 0.7 %
Shares of ZION stock traded up $0.38 on Tuesday, hitting $55.40. The stock had a trading volume of 1,497,604 shares, compared to its average volume of 1,063,526. Zions Bancorporation, National Association has a one year low of $37.76 and a one year high of $63.22. The business has a 50 day moving average price of $57.07 and a 200 day moving average price of $50.92. The company has a market cap of $8.18 billion, a PE ratio of 12.62, a P/E/G ratio of 5.10 and a beta of 1.12. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58.
Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last announced 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 firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same quarter in the prior year, the company earned $1.13 EPS. Research analysts anticipate that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.
Zions Bancorporation, National Association Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from Zions Bancorporation, National Association's previous quarterly dividend of $0.41. Zions Bancorporation, National Association's dividend payout ratio is presently 39.18%.
Insider Activity at Zions Bancorporation, National Association
In related news, VP Eric Ellingsen sold 1,238 shares of the business's stock in a transaction on 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 in the company, valued at $2,182,817.52. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of the firm's stock in a transaction 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 owns 86,232 shares in the company, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock worth $1,108,184 over the last three months. Company insiders own 2.22% of the company's stock.
Institutional Investors Weigh In On Zions Bancorporation, National Association
Several hedge funds have recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in Zions Bancorporation, National Association in the 3rd quarter worth about $28,000. Allspring Global Investments Holdings LLC raised its stake in shares of Zions Bancorporation, National Association by 68.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank's stock worth $56,000 after buying an additional 526 shares during the period. Abich Financial Wealth Management LLC lifted its position in shares of Zions Bancorporation, National Association by 26.4% during the 2nd 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 in the last quarter. Acadian Asset Management LLC acquired a new stake in Zions Bancorporation, National Association in the 2nd quarter valued at $101,000. Finally, Venturi Wealth Management LLC increased its holdings in Zions Bancorporation, National Association by 209.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank's stock worth $117,000 after acquiring an additional 1,671 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.
About Zions Bancorporation, National Association
(
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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.
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