Royal Bank of Canada Boosts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $47.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective increased by Royal Bank of Canada from $46.00 to $47.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a sector perform rating on the bank’s stock.

Several other analysts have also recently issued reports on the stock. Stephens upped their price target on shares of Zions Bancorporation, National Association from $46.00 to $48.00 and gave the company an equal weight rating in a report on Tuesday, January 23rd. Morgan Stanley increased their target price on shares of Zions Bancorporation, National Association from $32.00 to $40.00 and gave the stock an underweight rating in a report on Wednesday, February 7th. Wedbush dropped their target price on shares of Zions Bancorporation, National Association from $48.00 to $46.00 and set a neutral rating on the stock in a report on Tuesday, January 23rd. Robert W. Baird dropped their target price on shares of Zions Bancorporation, National Association from $50.00 to $48.00 and set a neutral rating on the stock in a report on Tuesday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Zions Bancorporation, National Association in a report on Wednesday, April 10th. They set a hold rating and a $47.00 target price on the stock. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $43.16.

Zions Bancorporation, National Association Trading Up 1.2 %

ZION opened at $41.76 on Tuesday. The stock has a market capitalization of $6.16 billion, a PE ratio of 10.49 and a beta of 1.13. The firm’s fifty day moving average price is $40.88 and its 200 day moving average price is $39.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 12-month low of $18.26 and a 12-month high of $46.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, research analysts expect that Zions Bancorporation, National Association will post 4.3 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.93%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insider Transactions at Zions Bancorporation, National Association

In related news, CEO Harris H. Simmons bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $38.54 per share, for a total transaction of $154,160.00. Following the transaction, the chief executive officer now directly owns 1,312,987 shares of the company’s stock, valued at approximately $50,602,518.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Harris H. Simmons bought 3,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $38.99 per share, for a total transaction of $140,364.00. Following the transaction, the chief executive officer now directly owns 1,261,866 shares of the company’s stock, valued at approximately $49,200,155.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Harris H. Simmons bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $38.54 per share, with a total value of $154,160.00. Following the transaction, the chief executive officer now directly owns 1,312,987 shares in the company, valued at $50,602,518.98. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 13,929 shares of company stock worth $563,778. Insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Zions Bancorporation, National Association during the 4th quarter valued at about $67,694,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Zions Bancorporation, National Association by 119.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after purchasing an additional 1,259,571 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, National Association by 22.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock valued at $220,077,000 after purchasing an additional 927,899 shares in the last quarter. iA Global Asset Management Inc. bought a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at about $28,113,000. Finally, Artemis Investment Management LLP bought a new position in shares of Zions Bancorporation, National Association during the 4th quarter valued at about $28,025,000. 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.