Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $54.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target increased by Morgan Stanley from $42.00 to $54.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They issued a hold rating and a $47.00 price target on the stock. Argus downgraded shares of Zions Bancorporation, National Association from a buy rating to a hold rating in a research note on Thursday, July 25th. Stephens boosted their price target on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a market perform rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $48.72.

Zions Bancorporation, National Association Price Performance

Shares of ZION stock opened at $46.16 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50-day moving average is $45.14 and its two-hundred day moving average is $42.85. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32. The company has a market capitalization of $6.82 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company had revenue of $776.00 million for the quarter, compared to the consensus estimate of $761.61 million. During the same period in the previous year, the firm earned $1.11 earnings per share. Zions Bancorporation, National Association’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that Zions Bancorporation, National Association will post 4.53 earnings per share for the current year.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Insiders Place Their Bets

In other news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the transaction, the vice president now owns 17,857 shares in the company, valued at approximately $925,528.31. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the transaction, the vice president now owns 17,857 shares in the company, valued at approximately $925,528.31. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the transaction, the executive vice president now owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The disclosure for this sale can be found here. Insiders sold 67,578 shares of company stock worth $3,498,965 in the last 90 days. Corporate insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently bought and sold shares of the business. CVA Family Office LLC raised its position in Zions Bancorporation, National Association by 1.0% in the 1st quarter. CVA Family Office LLC now owns 24,783 shares of the bank’s stock valued at $1,076,000 after purchasing an additional 245 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in Zions Bancorporation, National Association by 1.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 22,288 shares of the bank’s stock worth $978,000 after buying an additional 286 shares during the last quarter. Strategic Advocates LLC raised its position in Zions Bancorporation, National Association by 6.1% during the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock worth $223,000 after buying an additional 296 shares during the last quarter. Yousif Capital Management LLC raised its position in Zions Bancorporation, National Association by 1.2% during the 4th quarter. Yousif Capital Management LLC now owns 26,161 shares of the bank’s stock worth $1,148,000 after buying an additional 310 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Zions Bancorporation, National Association by 1.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock worth $1,174,000 after buying an additional 327 shares during the last quarter. Hedge funds and other 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.