Zions Bancorporation, National Association (NASDAQ:ZION) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) from a neutral rating to a buy rating in a report issued on Tuesday morning, MarketBeat.com reports. They currently have $71.00 price target on the bank’s stock.

A number of other equities analysts have also commented on ZION. Compass Point lifted their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price objective on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a research note on Wednesday, September 18th. Evercore ISI lifted their price objective on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.25.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $54.87 on Tuesday. The stock has a market cap of $8.10 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 5.10 and a beta of 1.12. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average is $57.16 and its 200-day moving average is $50.97. Zions Bancorporation, National Association has a 1-year low of $37.76 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released 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. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $1.13 earnings per share. Equities research analysts anticipate that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.13%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Paul E. Burdiss sold 9,506 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares in the company, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,881 shares of company stock valued at $1,108,184 over the last ninety days. 2.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several institutional investors have recently bought and sold shares of ZION. Allspring Global Investments Holdings LLC grew its holdings in Zions Bancorporation, National Association by 68.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock worth $56,000 after buying an additional 526 shares in the last quarter. Victory Capital Management Inc. grew its stake in Zions Bancorporation, National Association by 371.4% in the 2nd quarter. Victory Capital Management Inc. now owns 152,150 shares of the bank’s stock valued at $6,599,000 after purchasing an additional 119,871 shares during the period. Arizona State Retirement System grew its stake in Zions Bancorporation, National Association by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 41,477 shares of the bank’s stock valued at $1,799,000 after purchasing an additional 762 shares during the period. Acadian Asset Management LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter valued at $101,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter valued at $165,000. 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.