Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $70.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target lifted by Morgan Stanley from $63.00 to $70.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. TD Cowen initiated coverage on shares of Zions Bancorporation, N.A. in a research report on Thursday, September 25th. They set a “hold” rating and a $64.00 price target for the company. Royal Bank Of Canada boosted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their target price on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Citigroup lifted their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and an average price target of $61.45.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock opened at $56.48 on Monday. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The stock’s 50 day simple moving average is $55.66 and its two-hundred day simple moving average is $51.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.48 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.27. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $810.24 million. During the same quarter in the prior year, the company earned $1.28 EPS. As a group, analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a $0.45 dividend. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, August 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 32.91%.

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

Several large investors have recently bought and sold shares of the business. Curat Global LLC purchased a new position in Zions Bancorporation, N.A. in the 1st quarter worth about $25,000. Picton Mahoney Asset Management purchased a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at about $25,000. Traub Capital Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the second quarter worth approximately $31,000. Assetmark Inc. raised its holdings in shares of Zions Bancorporation, N.A. by 75.3% during the second quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after purchasing an additional 289 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $40,000. 76.84% of the stock is currently owned by institutional investors.

About Zions Bancorporation, N.A.

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.