Zions Bancorporation, National Association (NASDAQ:ZION) Upgraded to Equal Weight at Morgan Stanley

Morgan Stanley upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) from an underweight rating to an equal weight rating in a report released on Monday, MarketBeat.com reports. They currently have $54.00 target price on the bank’s stock.

A number of other equities research analysts have also recently commented on the company. Compass Point increased their target price on Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods increased their price objective on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a market perform rating in a research note on Tuesday, July 23rd. Jefferies Financial Group cut their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a hold rating for the company in a research note on Wednesday, September 11th. Robert W. Baird raised their price target on shares of Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of Zions Bancorporation, National Association from a sell rating to a hold rating in a research report on Tuesday, July 30th. One research 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 data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $48.72.

Zions Bancorporation, National Association Trading Up 1.6 %

Shares of ZION stock opened at $47.22 on Monday. The stock has a market cap of $6.97 billion, a P/E ratio of 11.86, a P/E/G ratio of 2.81 and a beta of 1.09. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. Zions Bancorporation, National Association has a fifty-two week low of $28.90 and a fifty-two week high of $53.32. The business has a fifty day simple moving average of $47.66 and a 200-day simple moving average of $44.52.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 earnings per share. On average, analysts forecast that Zions Bancorporation, National Association will post 4.51 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.47%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 41.21%.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the transaction, the executive vice president now owns 24,640 shares in the company, valued at approximately $1,275,859.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Terry Alan Shirey sold 1,917 shares of the business’s 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 transaction, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the completion of the transaction, the president now owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,073 shares of company stock worth $3,476,298. 2.22% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. grew its stake in Zions Bancorporation, National Association by 8.3% during the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock valued at $170,000 after purchasing an additional 299 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Zions Bancorporation, National Association during the second quarter worth approximately $9,541,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Zions Bancorporation, National Association by 15.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 47,731 shares of the bank’s stock worth $2,070,000 after buying an additional 6,330 shares during the last quarter. Creative Planning raised its holdings in Zions Bancorporation, National Association by 2.0% in the second quarter. Creative Planning now owns 20,062 shares of the bank’s stock valued at $870,000 after acquiring an additional 386 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Zions Bancorporation, National Association by 19.4% during the 2nd quarter. Algert Global LLC now owns 91,784 shares of the bank’s stock valued at $3,981,000 after acquiring an additional 14,914 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.