Zions Bancorporation, National Association (NASDAQ:ZION) Given New $62.00 Price Target at Wells Fargo & Company

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target raised by Wells Fargo & Company from $54.00 to $62.00 in a report released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

Several other research firms have also issued reports on ZION. The Goldman Sachs Group raised their price target on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised their price target on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Truist Financial raised their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Barclays raised their price target on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group reduced their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.59.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION opened at $59.51 on Friday. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 5.27 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 1-year low of $33.66 and a 1-year high of $61.80. The stock’s 50-day moving average is $50.44 and its 200 day moving average is $47.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $1.13 EPS. On average, sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 39.18%.

Insider Activity

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $209,306.30. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,434,894.84. The trade was a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,228 shares of company stock worth $519,048 in the last quarter. 2.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZION. ORG Wealth Partners LLC purchased a new position in Zions Bancorporation, National Association during the third quarter valued at $28,000. ORG Partners LLC purchased a new position in shares of Zions Bancorporation, National Association in the second quarter worth $33,000. International Assets Investment Management LLC purchased a new position in shares of Zions Bancorporation, National Association in the second quarter worth $34,000. Rothschild Investment LLC purchased a new position in shares of Zions Bancorporation, National Association in the second quarter worth $39,000. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Zions Bancorporation, National Association by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock worth $49,000 after purchasing an additional 372 shares during the last quarter. Hedge funds and other 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.