Zions Bancorporation, National Association (NASDAQ:ZION) Given New $62.00 Price Target at Wells Fargo & Company

by · The Markets Daily

Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) had its target price increased by Wells Fargo & Company from $54.00 to $62.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

A number of other brokerages also recently issued reports on ZION. Jefferies Financial Group cut their target price 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. Argus downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Truist Financial lifted their target price on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $53.59.

Read Our Latest Research Report on Zions Bancorporation, National Association

Zions Bancorporation, National Association Price Performance

ZION traded down $0.09 during trading on Friday, hitting $59.51. The company’s stock had a trading volume of 1,095,824 shares, compared to its average volume of 1,628,661. Zions Bancorporation, National Association has a twelve month low of $33.66 and a twelve month high of $61.80. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 5.27 and a beta of 1.07. 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 business’s fifty day simple moving average is $50.44 and its 200 day simple moving average is $47.04.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate 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 firm earned $1.13 EPS. On average, equities research analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.43 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the sale, the executive vice president now owns 24,714 shares in the company, valued at $1,321,210.44. This represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now directly owns 35,878 shares of the company’s stock, valued at $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 quarter, insiders have sold 9,228 shares of company stock valued at $519,048. 2.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank raised its holdings in Zions Bancorporation, National Association by 331.1% during the first quarter. Comerica Bank now owns 118,861 shares of the bank’s stock worth $5,159,000 after purchasing an additional 91,289 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Zions Bancorporation, National Association during the 1st quarter worth approximately $1,959,000. CANADA LIFE ASSURANCE Co raised its position in shares of Zions Bancorporation, National Association by 71.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock worth $5,136,000 after purchasing an additional 49,213 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Zions Bancorporation, National Association in the first quarter worth $878,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Zions Bancorporation, National Association by 223.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 41,401 shares of the bank’s stock valued at $1,797,000 after acquiring an additional 28,600 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

(Get Free Report)

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.

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