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

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective raised by Morgan Stanley from $42.00 to $54.00 in a report issued on Monday morning, Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other research analysts have also weighed in on ZION. Keefe, Bruyette & Woods raised their target price on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a market perform rating in a report on Tuesday, July 23rd. Jefferies Financial Group dropped their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a hold rating on the stock in a report on Monday, April 8th. Truist Financial raised their target price on Zions Bancorporation, National Association from $45.00 to $54.00 and gave the company a hold rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft started coverage on Zions Bancorporation, National Association in a report on Wednesday, April 10th. They issued a hold rating and a $47.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of Hold and a consensus target price of $48.72.

Zions Bancorporation, National Association Stock Up 1.5 %

Shares of NASDAQ:ZION opened at $46.16 on Monday. The business’s 50 day simple moving average is $45.14 and its two-hundred day simple moving average is $42.85. The firm has a market cap of $6.82 billion, a P/E ratio of 11.60, a PEG ratio of 2.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. Zions Bancorporation, National Association has a 52-week low of $28.90 and a 52-week high of $53.32.

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

Zions Bancorporation, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the sale, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was 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 directly owns 17,857 shares of the company’s stock, valued at $925,528.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the transaction, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The disclosure for this sale can be found here. Insiders sold 67,578 shares of company stock valued at $3,498,965 over the last ninety days. 2.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Large investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new stake in Zions Bancorporation, National Association during the first quarter valued at $27,000. Federated Hermes Inc. boosted its stake in Zions Bancorporation, National Association by 105.4% during the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock valued at $28,000 after buying an additional 331 shares during the period. Jones Financial Companies Lllp bought a new stake in Zions Bancorporation, National Association during the fourth quarter valued at $29,000. ORG Partners LLC bought a new stake in Zions Bancorporation, National Association during the second quarter worth about $33,000. Finally, International Assets Investment Management LLC bought a new stake in Zions Bancorporation, National Association during the second quarter worth about $34,000. 76.84% of the stock is owned by 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.