Zions Bancorporation, N.A. (NASDAQ:ZION) Cut to “Hold” at Evercore ISI

Evercore ISI downgraded shares of Zions Bancorporation, N.A. (NASDAQ:ZION) from an outperform rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has $65.00 price objective on the bank’s stock.

ZION has been the topic of a number of other reports. Bank of America raised Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $59.00 to $62.00 in a report on Thursday, October 23rd. Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a research report on Monday, December 29th. Baird R W raised Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, Piper Sandler reduced 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 note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and a consensus price target of $61.16.

Zions Bancorporation, N.A. Trading Up 1.1%

Shares of Zions Bancorporation, N.A. stock opened at $60.82 on Tuesday. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $61.57. The firm has a market capitalization of $8.98 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The company’s fifty day moving average price is $55.62 and its two-hundred day moving average price is $55.11.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, June 12th. The bank reported $1.32 EPS for the quarter. The company 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, analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, November 13th. Zions Bancorporation, N.A.’s dividend payout ratio is 32.26%.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 2,458 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the sale, the executive vice president directly owned 27,133 shares of the company’s stock, valued at approximately $1,441,033.63. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several institutional investors have recently modified their holdings of the business. Traub Capital Management LLC bought a new position in Zions Bancorporation, N.A. in the second quarter valued at approximately $31,000. Assetmark Inc. lifted its stake 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 valued at $35,000 after purchasing an additional 289 shares during the period. Community Bank N.A. bought a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter worth $36,000. Steph & Co. acquired a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $37,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of 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, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle?market firms and high?net?worth clients. Its service portfolio includes deposit accounts, cash?management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.