Zions Bancorporation, N.A. (NASDAQ:ZION) Sets New 1-Year High – Here’s Why

Zions Bancorporation, N.A. (NASDAQ:ZION)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $62.49 and last traded at $61.8070, with a volume of 303840 shares traded. The stock had previously closed at $60.99.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ZION shares. Citigroup lifted their price target on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. UBS Group cut their target price on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Piper Sandler increased their price target on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Finally, Stephens increased their target price on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and a consensus price target of $63.32.

Zions Bancorporation, N.A. Stock Up 0.5%

The company has a market capitalization of $9.47 billion, a PE ratio of 10.69 and a beta of 0.85. The company’s fifty day moving average is $58.81 and its 200-day moving average is $55.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 30.00%.

Insider Activity

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 28,980 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $61.15, for a total value of $1,772,127.00. Following the completion of the transaction, the president directly owned 82,250 shares in the company, valued at $5,029,587.50. This represents a 26.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Derek Steward sold 769 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $60.46, for a total transaction of $46,493.74. Following the sale, the executive vice president owned 14,307 shares in the company, valued at approximately $865,001.22. The trade was a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,268 shares of company stock worth $1,911,690 over the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently bought and sold shares of the stock. North Dakota State Investment Board bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $299,000. Qsemble Capital Management LP purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth about $3,353,000. Arbejdsmarkedets Tillaegspension bought a new position in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $24,271,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Zions Bancorporation, N.A. by 5.9% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 63,100 shares of the bank’s stock valued at $3,694,000 after buying an additional 3,500 shares in the last quarter. Finally, Blackhawk Capital Partners LLC increased its stake in Zions Bancorporation, N.A. by 13.3% in the 4th quarter. Blackhawk Capital Partners LLC now owns 5,144 shares of the bank’s stock worth $301,000 after acquiring an additional 602 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.