Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $63.00 at Royal Bank of Canada

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective boosted by Royal Bank of Canada from $61.00 to $63.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

A number of other equities analysts have also issued reports on ZION. Morgan Stanley increased their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Wedbush raised their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Truist Financial upped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Compass Point boosted their price target on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.71.

Zions Bancorporation, National Association Stock Performance

ZION stock opened at $58.09 on Wednesday. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22. The stock’s 50 day simple moving average is $57.21 and its 200 day simple moving average is $51.92. 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 firm has a market cap of $8.58 billion, a P/E ratio of 13.23, a P/E/G ratio of 3.11 and a beta of 1.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787,704.90 billion. During the same quarter last year, the company earned $0.78 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid 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 2.96%. 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 currently 34.75%.

Insider Buying and Selling at Zions Bancorporation, National Association

In related 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 sale, the executive vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,881 shares of company stock valued at $1,108,184. 2.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Artemis Investment Management LLP lifted its position in Zions Bancorporation, National Association by 165.0% in the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after buying an additional 563,889 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after buying an additional 538,049 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter valued at $24,647,000. Finally, AQR Capital Management LLC grew its holdings in shares of Zions Bancorporation, National Association by 75.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after acquiring an additional 433,513 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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.