Brokerages Set Zions Bancorporation, National Association (NASDAQ:ZION) Target Price at $53.59

Zions Bancorporation, National Association (NASDAQ:ZION) has received a consensus rating of “Hold” from the eighteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $55.13.

Several research analysts have weighed in on ZION shares. The Goldman Sachs Group lifted their target price on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Truist Financial upped their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ:ZION opened at $61.11 on Wednesday. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 5.36 and a beta of 1.07. The firm’s 50 day simple moving average is $52.11 and its 200 day simple moving average is $47.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. Zions Bancorporation, National Association has a fifty-two week low of $33.66 and a fifty-two week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its 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. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. During the same period last year, the business posted $1.13 earnings per share. As a group, sell-side analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.81%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 39.18%.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 3,605 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $209,306.30. Following the transaction, the executive vice president now directly owns 24,714 shares in the company, valued at $1,434,894.84. The trade was a 12.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,375 shares of company stock worth $527,748 in the last 90 days. Corporate insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank increased its holdings in shares of Zions Bancorporation, National Association by 331.1% during the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock worth $5,159,000 after acquiring an additional 91,289 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Zions Bancorporation, National Association in the first quarter valued at about $1,959,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Zions Bancorporation, National Association by 71.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock worth $5,136,000 after buying an additional 49,213 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Zions Bancorporation, National Association during the 1st quarter worth about $878,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Zions Bancorporation, National Association by 223.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 41,401 shares of the bank’s stock valued at $1,797,000 after buying an additional 28,600 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.