Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 52-Week High – Still a Buy?

Zions Bancorporation, National Association (NASDAQ:ZION)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $63.08 and last traded at $62.38, with a volume of 81547 shares traded. The stock had previously closed at $60.58.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ZION shares. Royal Bank of Canada upped their target price on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial increased their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, Wolfe Research upgraded shares of Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.13.

Zions Bancorporation, National Association Trading Down 1.0 %

The company has a market cap of $9.03 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 5.46 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $52.11 and a two-hundred day moving average of $47.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $1.13 earnings per share. As a group, sell-side analysts predict that Zions Bancorporation, National Association will post 4.85 EPS 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. Stockholders of record on Thursday, November 14th were given a $0.43 dividend. The ex-dividend date was 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 dividend yield of 2.81%. Zions Bancorporation, National Association’s payout ratio is 39.18%.

Insider Buying and Selling

In other news, EVP Jennifer Anne Smith sold 3,605 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $209,306.30. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,434,894.84. This represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the 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 completion of the sale, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,375 shares of company stock valued at $527,748. Corporate insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZION. ORG Wealth Partners LLC purchased a new position in Zions Bancorporation, National Association in the 3rd quarter worth approximately $28,000. ORG Partners LLC purchased a new stake in Zions Bancorporation, National Association in the second quarter worth approximately $33,000. International Assets Investment Management LLC bought a new position in Zions Bancorporation, National Association during the second quarter valued at approximately $34,000. Rothschild Investment LLC purchased a new position in shares of Zions Bancorporation, National Association during the second quarter worth approximately $39,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 49.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock worth $49,000 after acquiring an additional 372 shares during the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.