Zions Bancorporation, N.A. (NASDAQ:ZION) Hits New 12-Month High After Analyst Upgrade

Zions Bancorporation, N.A. (NASDAQ:ZION)’s share price reached a new 52-week high during trading on Monday after Barclays raised their price target on the stock from $61.00 to $68.00. Barclays currently has an underweight rating on the stock. Zions Bancorporation, N.A. traded as high as $60.78 and last traded at $60.2650, with a volume of 373508 shares. The stock had previously closed at $59.25.

A number of other research analysts have also recently issued reports on the stock. Evercore ISI lifted their price target on shares of Zions Bancorporation, N.A. from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. TD Cowen started coverage on Zions Bancorporation, N.A. in a research report on Thursday, September 25th. They issued a “hold” rating and a $64.00 target price for the company. Morgan Stanley increased their price target on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Friday, October 17th. Finally, Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.70.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the transaction, the executive vice president directly owned 27,133 shares of the company’s stock, valued at approximately $1,441,033.63. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. boosted its stake in Zions Bancorporation, N.A. by 16.5% during the 1st quarter. Baird Financial Group Inc. now owns 8,156 shares of the bank’s stock worth $407,000 after purchasing an additional 1,156 shares during the period. Royal Bank of Canada boosted its position in shares of Zions Bancorporation, N.A. by 76.3% during the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after purchasing an additional 59,483 shares in the last quarter. Amundi grew its position in Zions Bancorporation, N.A. by 33.6% during the first quarter. Amundi now owns 100,282 shares of the bank’s stock worth $5,000,000 after buying an additional 25,234 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Zions Bancorporation, N.A. by 24.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 144,840 shares of the bank’s stock valued at $7,222,000 after purchasing an additional 28,179 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after purchasing an additional 6,393 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Price Performance

The firm has a market capitalization of $8.90 billion, a PE ratio of 10.80, a P/E/G ratio of 0.95 and a beta of 0.85. The company has a 50-day moving average price of $54.95 and a 200-day moving average price of $54.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. The company had revenue of $705.00 million for the quarter. Sell-side analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 32.26%.

Zions Bancorporation, N.A. Company Profile

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.