Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $65.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective upped by Evercore ISI from $61.00 to $65.00 in a research report released on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the bank’s stock.

Other analysts have also recently issued research reports about the company. Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Friday, October 17th. Piper Sandler lowered their target price on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 8th. Cantor Fitzgerald assumed coverage on shares of Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They set an “overweight” rating and a $64.00 price target for the company. Finally, Zacks Research lowered shares of Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.35.

Zions Bancorporation, N.A. Stock Down 0.1%

ZION stock opened at $59.29 on Monday. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $60.00. The company’s 50 day moving average price is $53.30 and its 200 day moving average price is $53.89. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 0.98 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. The firm had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. On average, equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Thursday, November 13th. Zions Bancorporation, N.A.’s payout ratio is 32.26%.

Insider Transactions at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 2,458 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $53.11, for a total value of $130,544.38. Following the completion of the sale, the executive vice president owned 27,133 shares in the company, valued at $1,441,033.63. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.22% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

Several hedge funds and other institutional investors have recently made changes to their positions in ZION. Traub Capital Management LLC purchased a new position in Zions Bancorporation, N.A. in the second quarter valued at about $31,000. Assetmark Inc. grew its holdings in shares of Zions Bancorporation, N.A. by 75.3% in the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock worth $35,000 after acquiring an additional 289 shares during the period. Community Bank N.A. acquired a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth approximately $36,000. Steph & Co. purchased a new position in Zions Bancorporation, N.A. in the 3rd quarter valued at approximately $37,000. Finally, Salomon & Ludwin LLC acquired a new position in Zions Bancorporation, N.A. during the third quarter worth $37,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. 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.