Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Increased to $57.00 by Analysts at Royal Bank of Canada

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price boosted by Royal Bank of Canada from $55.00 to $57.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a sector perform rating on the bank’s stock.

ZION has been the subject of several other reports. Wells Fargo & Company cut their price target on shares of Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. reduced their target price on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley raised Zions Bancorporation, National Association from an “underweight” rating to an “equal weight” rating and set a $54.00 price target on the stock in a report on Monday, September 30th. Jefferies Financial Group cut their price objective on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Finally, StockNews.com raised shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.11.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $52.51 on Tuesday. The business’s fifty day moving average is $47.59 and its 200 day moving average is $45.26. The firm 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 announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share 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 for the quarter, compared to analysts’ expectations of $781.63 million. During the same period in the prior year, the business posted $1.13 earnings per share. Research analysts predict that Zions Bancorporation, National Association will post 4.53 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

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

Insiders Place Their Bets

In other news, President Scott J. Mclean sold 60,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares of the company’s stock, valued at approximately $3,850,243.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Bruce K. Alexander sold 5,156 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Scott J. Mclean sold 60,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares of the company’s stock, valued at approximately $3,850,243.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,073 shares of company stock valued at $3,476,298 in the last ninety days. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently made changes to their positions in ZION. Comerica Bank boosted its holdings in Zions Bancorporation, National Association by 331.1% in the first quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after acquiring an additional 91,289 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Zions Bancorporation, National Association in the 1st quarter worth about $1,959,000. Retirement Systems of Alabama boosted its stake in shares of Zions Bancorporation, National Association by 469.8% during the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after purchasing an additional 153,387 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Zions Bancorporation, National Association by 345.2% during the first quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock valued at $3,831,000 after buying an additional 68,445 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in Zions Bancorporation, National Association by 71.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock worth $5,136,000 after buying an additional 49,213 shares in the last quarter. 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.