Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $61.00 at Barclays

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target increased by Barclays from $59.00 to $61.00 in a report released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

ZION has been the subject of a number of other reports. UBS Group began coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. lowered their price objective on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada increased their target price on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley lifted their price target on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.71.

Zions Bancorporation, National Association Trading Down 1.6 %

Shares of NASDAQ:ZION opened at $58.09 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 3.11 and a beta of 1.12. Zions Bancorporation, National Association has a 1-year low of $37.76 and a 1-year high of $63.22. The company has a 50 day moving average price of $57.21 and a 200 day moving average price of $51.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787,704.90 billion. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. On average, research analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS 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. Investors of record on Thursday, November 14th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is presently 34.75%.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the transaction, the executive vice president now owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,881 shares of company stock valued at $1,108,184 over the last three months. 2.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Nilsine Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association in the fourth quarter valued at about $239,000. Pacer Advisors Inc. grew its holdings in Zions Bancorporation, National Association by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 22,021 shares of the bank’s stock valued at $1,195,000 after buying an additional 423 shares during the last quarter. KBC Group NV increased its position in Zions Bancorporation, National Association by 44.1% in the 4th quarter. KBC Group NV now owns 6,420 shares of the bank’s stock worth $348,000 after buying an additional 1,965 shares during the period. Blue Trust Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 42.0% during the fourth quarter. Blue Trust Inc. now owns 12,727 shares of the bank’s stock worth $690,000 after buying an additional 3,765 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its stake in shares of Zions Bancorporation, National Association by 7.3% in the fourth quarter. Impact Partnership Wealth LLC now owns 6,117 shares of the bank’s stock worth $332,000 after acquiring an additional 415 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.