Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $54.00 at Wells Fargo & Company

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price hoisted by Wells Fargo & Company from $50.00 to $54.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Several other equities analysts also recently weighed in on ZION. Morgan Stanley upgraded shares of 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. Wedbush increased their price target on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Stephens increased their price target on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $52.82.

Zions Bancorporation, National Association Stock Performance

ZION opened at $52.18 on Tuesday. Zions Bancorporation, National Association has a 52-week low of $28.90 and a 52-week high of $53.32. The company has a quick ratio of 0.84, a current ratio of 0.78 and a debt-to-equity ratio of 0.09. The company has a market cap of $7.71 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The firm’s 50-day moving average price is $47.97 and its 200-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 for the quarter, topping the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, equities analysts anticipate that Zions Bancorporation, National Association will post 4.6 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.14%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 37.36%.

Insider Activity

In other news, VP Bruce K. Alexander sold 5,156 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 17,857 shares in the company, valued at $925,528.31. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZION. Fidelis Capital Partners LLC purchased a new position in Zions Bancorporation, National Association in the 1st quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in Zions Bancorporation, National Association in the 3rd quarter valued at $28,000. ORG Partners LLC purchased a new position in Zions Bancorporation, National Association in the 2nd quarter valued at $33,000. International Assets Investment Management LLC purchased a new position in Zions Bancorporation, National Association in the 2nd quarter valued at $34,000. Finally, Rothschild Investment LLC purchased a new position in Zions Bancorporation, National Association in the 2nd quarter valued at $39,000. Hedge funds and other 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.