Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $59.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective raised by Barclays from $52.00 to $59.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the bank’s stock.

Several other brokerages have also weighed in on ZION. JPMorgan Chase & Co. cut their price objective on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley increased their price target on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group dropped their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. Stephens raised their price objective on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods upped their target price on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.25.

Zions Bancorporation, National Association Stock Down 1.0 %

ZION stock opened at $54.87 on Monday. Zions Bancorporation, National Association has a twelve month low of $37.76 and a twelve month high of $63.22. The stock has a market cap of $8.10 billion, a P/E ratio of 12.50, a PEG 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 company’s 50 day moving average is $57.10 and its two-hundred day moving average is $50.95.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its 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. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Research analysts expect that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

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

Insider Buying and Selling

In related news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, November 26th. The shares were 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 of the company’s stock, valued at approximately $5,265,325.92. The trade was a 9.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the 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 transaction, the executive vice president now owns 24,714 shares in the company, valued at $1,321,210.44. The trade was a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,881 shares of company stock worth $1,108,184. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter worth about $583,000. Cornercap Investment Counsel Inc. bought a new position in Zions Bancorporation, National Association in the 3rd quarter valued at about $510,000. Dimensional Fund Advisors LP lifted its holdings in shares of Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after purchasing an additional 929,251 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Zions Bancorporation, National Association by 1.9% during the third quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock worth $1,302,000 after buying an additional 506 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after buying an additional 433,513 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

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.