Keefe, Bruyette & Woods Boosts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $56.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price boosted by Keefe, Bruyette & Woods from $53.00 to $56.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 21st. Truist Financial lowered their price target on Zions Bancorporation, National Association from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Wedbush raised their price target on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley upgraded shares of Zions Bancorporation, National Association from an “underweight” rating to an “equal weight” rating and set a $54.00 target price for the company in a research note on Monday, September 30th. Finally, Evercore ISI reduced their target price on shares of Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average price target of $52.82.

Zions Bancorporation, National Association Trading Up 0.6 %

Zions Bancorporation, National Association stock opened at $52.18 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.84. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.93 and a beta of 1.09. Zions Bancorporation, National Association has a one year low of $28.90 and a one year high of $53.32. The company’s fifty day moving average price is $47.97 and its two-hundred day moving average price is $45.42.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same period last year, the business posted $1.13 earnings per share. On average, analysts forecast that Zions Bancorporation, National Association will post 4.6 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio is 37.36%.

Insiders Place Their Bets

In other news, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction that occurred 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 owns 17,857 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after acquiring an additional 929,251 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Zions Bancorporation, National Association by 1.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,146,411 shares of the bank’s stock valued at $93,089,000 after purchasing an additional 22,123 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Zions Bancorporation, National Association by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock valued at $74,784,000 after purchasing an additional 5,609 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Zions Bancorporation, National Association by 9.7% in the second quarter. Wedge Capital Management L L P NC now owns 1,019,182 shares of the bank’s stock valued at $44,202,000 after purchasing an additional 90,234 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 75.0% in the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after purchasing an additional 433,513 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Company Profile

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.