Zions Bancorporation, National Association (NASDAQ:ZION) Upgraded to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) from a neutral rating to a buy rating in a research report released on Tuesday morning, Marketbeat reports. The firm currently has $71.00 price target on the bank’s stock.

ZION has been the topic of a number of other reports. Robert W. Baird raised their price target on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group cut their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company raised their price objective on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Finally, Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus price target of $58.25.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $55.40 on Tuesday. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 5.10 and a beta of 1.12. The stock’s 50 day moving average price is $57.07 and its two-hundred day moving average price is $50.92. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same quarter in the prior year, the business earned $1.13 EPS. On average, analysts anticipate that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.43 per share. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 3.10%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 39.18%.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Paul E. Burdiss sold 9,506 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the transaction, the executive vice president now directly owns 86,232 shares in the company, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,321,210.44. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently made changes to their positions in ZION. Neville Rodie & Shaw Inc. acquired a new stake in Zions Bancorporation, National Association during the 4th quarter valued at approximately $477,000. Nordea Investment Management AB boosted its stake in shares of Zions Bancorporation, National Association by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 225,840 shares of the bank’s stock valued at $12,306,000 after purchasing an additional 13,329 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Zions Bancorporation, National Association by 4.4% during the fourth quarter. GAMMA Investing LLC now owns 9,514 shares of the bank’s stock worth $516,000 after buying an additional 403 shares during the period. Franklin Resources Inc. raised its stake in Zions Bancorporation, National Association by 13.6% during the third quarter. Franklin Resources Inc. now owns 203,567 shares of the bank’s stock worth $10,195,000 after buying an additional 24,414 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Zions Bancorporation, National Association in the third quarter valued at $226,000. Institutional investors and hedge funds 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.