Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $59.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target upped by Barclays from $53.00 to $59.00 in a research note published on Wednesday morning, The Fly reports. They currently have an equal weight rating on the bank’s stock.

Several other research analysts have also recently weighed in on the stock. Stephens boosted their price objective on shares of Zions Bancorporation, National Association from $50.00 to $58.00 and gave the stock an equal weight rating in a research report on Tuesday, March 30th. Truist boosted their target price on Zions Bancorporation, National Association from $50.00 to $625.00 in a research report on Wednesday, January 20th. Argus raised their price target on Zions Bancorporation, National Association from $40.00 to $56.00 in a report on Thursday, January 21st. Janney Montgomery Scott raised Zions Bancorporation, National Association from a neutral rating to a buy rating and set a $55.00 price objective for the company in a report on Tuesday, February 9th. Finally, Wells Fargo & Company upped their target price on shares of Zions Bancorporation, National Association from $45.00 to $55.00 and gave the company an equal weight rating in a research report on Thursday, April 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $76.95.

Zions Bancorporation, National Association stock opened at $55.55 on Wednesday. The stock has a 50-day simple moving average of $55.11 and a 200 day simple moving average of $43.56. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 2.91 and a beta of 1.63. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. Zions Bancorporation, National Association has a 12-month low of $25.07 and a 12-month high of $60.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, January 18th. The bank reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.64. Zions Bancorporation, National Association had a net margin of 14.58% and a return on equity of 6.79%. The firm had revenue of $723.00 million during the quarter, compared to analysts’ expectations of $701.00 million. During the same quarter last year, the company posted $0.97 EPS. As a group, sell-side analysts anticipate that Zions Bancorporation, National Association will post 2.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Shareholders of record on Thursday, February 18th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, February 17th. This represents a $1.36 annualized dividend and a yield of 2.45%. Zions Bancorporation, National Association’s dividend payout ratio is presently 31.41%.

In other news, VP Mark Richard Young sold 2,615 shares of the stock in a transaction on Friday, February 19th. The shares were sold at an average price of $51.39, for a total transaction of $134,384.85. Following the completion of the sale, the vice president now owns 15,296 shares of the company’s stock, valued at $786,061.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Morris sold 8,258 shares of the stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $56.68, for a total transaction of $468,063.44. Following the sale, the executive vice president now directly owns 25,764 shares of the company’s stock, valued at approximately $1,460,303.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,349 shares of company stock valued at $8,242,881. Insiders own 1.81% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new position in Zions Bancorporation, National Association during the 1st quarter worth about $531,000. Hudson Bay Capital Management LP acquired a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $4,344,000. Norges Bank bought a new position in shares of Zions Bancorporation, National Association during the fourth quarter worth about $84,495,000. Interval Partners LP acquired a new stake in Zions Bancorporation, National Association in the 4th quarter valued at approximately $944,000. Finally, Principal Financial Group Inc. raised its position in Zions Bancorporation, National Association by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 339,837 shares of the bank’s stock valued at $14,762,000 after buying an additional 5,515 shares during the last quarter. 86.34% of the stock is owned by hedge funds and other institutional investors.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

Recommended Story: How to invest in a bear market

The Fly

Analyst Recommendations for Zions Bancorporation, National Association (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorporation National Association Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation National Association and related companies with MarketBeat.com's FREE daily email newsletter.