DA Davidson Forecasts Strong Price Appreciation for Zions Bancorporation, National Association (NASDAQ:ZION) Stock

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective boosted by DA Davidson from $66.00 to $69.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday. Morgan Stanley lifted their price target on shares of 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. Evercore ISI increased their price objective on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada raised their price target on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. One 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. According to MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $60.71.

Zions Bancorporation, National Association Stock Down 1.6 %

ZION opened at $58.09 on Wednesday. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s fifty day moving average is $57.21 and its 200 day moving average is $51.92. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22.

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 return on equity of 13.89% and a net margin of 14.09%. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787,704.90 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.43 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a yield of 2.96%. 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 presently 34.75%.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the sale, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock worth $1,108,184 over the last 90 days. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its stake in Zions Bancorporation, National Association by 1.2% in the 2nd quarter. Hsbc Holdings PLC now owns 30,247 shares of the bank’s stock worth $1,312,000 after acquiring an additional 363 shares in the last quarter. Sei Investments Co. grew its stake in Zions Bancorporation, National Association by 1.9% in the second quarter. Sei Investments Co. now owns 74,861 shares of the bank’s stock worth $3,246,000 after purchasing an additional 1,394 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in Zions Bancorporation, National Association by 7.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 46,479 shares of the bank’s stock worth $2,016,000 after purchasing an additional 3,240 shares during the period. Alpha DNA Investment Management LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at $529,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 26.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after buying an additional 296 shares during the period. 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.