Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Increased to $56.00 by Analysts at Morgan Stanley

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective increased by Morgan Stanley from $54.00 to $56.00 in a research note published on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the bank’s stock.

ZION has been the topic of a number of other research reports. Argus downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Evercore ISI dropped their price target on shares of Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. The Goldman Sachs Group lifted their price objective on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Royal Bank of Canada boosted their price target on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.11.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $52.51 on Tuesday. The firm’s 50-day moving average is $47.59 and its 200-day moving average is $45.26. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.91 and a beta of 1.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. 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 posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter in the prior year, the firm posted $1.13 EPS. Equities research analysts anticipate that Zions Bancorporation, National Association will post 4.53 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a $0.41 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a yield of 3.12%. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Insider Activity

In other news, VP Bruce K. Alexander sold 5,156 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now owns 17,857 shares in the company, valued at $925,528.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of the stock in a transaction on Monday, July 29th. The shares were 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 in the company, valued at approximately $925,528.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,073 shares of company stock valued at $3,476,298. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in Zions Bancorporation, National Association by 103.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock valued at $7,163,000 after purchasing an additional 4,993,164 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Zions Bancorporation, National Association by 17.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after buying an additional 929,251 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Zions Bancorporation, National Association by 165.0% during the third quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after acquiring an additional 563,889 shares during the period. AQR Capital Management LLC lifted its position in Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after acquiring an additional 433,513 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Zions Bancorporation, National Association by 197.5% in the 1st quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after purchasing an additional 376,549 shares during the period. 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.