Brokerages Set Zions Bancorporation, National Association (NASDAQ:ZION) Target Price at $58.25

Zions Bancorporation, National Association (NASDAQ:ZION) has been assigned a consensus rating of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $58.25.

A number of research analysts have commented on ZION shares. Keefe, Bruyette & Woods raised their target price on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on 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. Barclays lifted their price target on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. Finally, 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.

Insider Activity

In related news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the transaction, the executive vice president now directly owns 86,232 shares in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’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 in the company, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,881 shares of company stock valued at $1,108,184. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in Zions Bancorporation, National Association in the third quarter valued at approximately $583,000. Cornercap Investment Counsel Inc. purchased a new stake in Zions Bancorporation, National Association in the 3rd quarter worth $510,000. Dimensional Fund Advisors LP lifted its holdings in Zions Bancorporation, National Association by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after purchasing an additional 929,251 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Zions Bancorporation, National Association by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock valued at $1,302,000 after purchasing an additional 506 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Zions Bancorporation, National Association by 75.0% during the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after purchasing an additional 433,513 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Trading Up 1.9 %

ZION stock opened at $54.35 on Thursday. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The firm’s 50-day moving average is $57.26 and its 200 day moving average is $51.26. The company has a market capitalization of $8.03 billion, a PE ratio of 12.38, a P/E/G ratio of 5.10 and a beta of 1.12. 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 (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate 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. On average, research analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 3.16%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is currently 39.18%.

Zions Bancorporation, National Association Company Profile

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.