Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $46.00

by · The Markets Daily

Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) had its price target lifted by Royal Bank of Canada from $45.00 to $46.00 in a report published on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the bank’s stock.

Several other analysts have also commented on ZION. Jefferies Financial Group decreased their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a hold rating on the stock in a research note on Monday, April 8th. Morgan Stanley boosted their price target on Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an underweight rating in a research note on Wednesday, February 7th. Evercore ISI boosted their price target on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an outperform rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. boosted their price objective on Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Finally, Stephens boosted their price objective on Zions Bancorporation, National Association from $46.00 to $48.00 and gave the stock an equal weight rating in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $43.00.

View Our Latest Analysis on ZION

Zions Bancorporation, National Association Stock Performance

ZION opened at $40.67 on Tuesday. The stock has a market cap of $6.00 billion, a PE ratio of 9.35 and a beta of 1.13. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Zions Bancorporation, National Association has a 1 year low of $18.26 and a 1 year high of $46.15. The stock’s 50 day simple moving average is $40.75 and its 200-day simple moving average is $38.87.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last released its quarterly earnings data on Monday, January 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $754.81 million. Zions Bancorporation, National Association had a net margin of 14.71% and a return on equity of 15.33%. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Sell-side analysts forecast that Zions Bancorporation, National Association will post 4.26 EPS for the current year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.64 annualized dividend and a dividend yield of 4.03%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 37.70%.

Insiders Place Their Bets

In related news, VP A Scott Anderson sold 4,093 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $44.25, for a total transaction of $181,115.25. Following the completion of the transaction, the vice president now directly owns 14,665 shares in the company, valued at $648,926.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP A Scott Anderson sold 4,093 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $44.25, for a total transaction of $181,115.25. Following the completion of the transaction, the vice president now directly owns 14,665 shares in the company, valued at $648,926.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Harris H. Simmons acquired 3,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average price of $38.99 per share, with a total value of $140,364.00. Following the completion of the acquisition, the chief executive officer now owns 1,261,866 shares of the company’s stock, valued at approximately $49,200,155.34. The disclosure for this purchase can be found here. Insiders sold 18,022 shares of company stock worth $744,893 over the last ninety days. 2.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Deutsche Bank AG lifted its position in shares of Zions Bancorporation, National Association by 22.1% in the third quarter. Deutsche Bank AG now owns 389,686 shares of the bank’s stock valued at $13,596,000 after buying an additional 70,461 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Zions Bancorporation, National Association by 119.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after buying an additional 1,259,571 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Zions Bancorporation, National Association by 55.2% in the fourth quarter. Nordea Investment Management AB now owns 264,384 shares of the bank’s stock valued at $11,678,000 after buying an additional 94,077 shares during the last quarter. Kestra Advisory Services LLC lifted its position in shares of Zions Bancorporation, National Association by 31.4% in the third quarter. Kestra Advisory Services LLC now owns 10,326 shares of the bank’s stock valued at $360,000 after buying an additional 2,467 shares during the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of Zions Bancorporation, National Association in the third quarter valued at approximately $491,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Company Profile

(Get Free Report)

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.

Featured Stories