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

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $62.00 to $67.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Zions Bancorporation, N.A. traded as high as $60.00 and last traded at $59.33, with a volume of 1471884 shares trading hands. The stock had previously closed at $59.15.

A number of other equities analysts have also commented on ZION. Piper Sandler cut their price objective on Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. UBS Group dropped their price target on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 8th. Evercore ISI boosted their target price on shares of Zions Bancorporation, N.A. from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Monday. Finally, Zacks Research cut shares of Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and an average price target of $61.35.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $53.11, for a total transaction of $130,544.38. Following the transaction, the executive vice president owned 27,133 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Traub Capital Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter worth $31,000. Community Bank N.A. bought a new position in shares of Zions Bancorporation, N.A. in the third quarter valued at $36,000. Salomon & Ludwin LLC bought a new position in shares of Zions Bancorporation, N.A. in the third quarter valued at $37,000. Steph & Co. acquired a new position in shares of Zions Bancorporation, N.A. during the third quarter valued at about $37,000. Finally, Assetmark Inc. increased its position in shares of Zions Bancorporation, N.A. by 75.3% during the second quarter. Assetmark Inc. now owns 673 shares of the bank’s stock worth $35,000 after acquiring an additional 289 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Trading Up 0.5%

The company has a market capitalization of $8.79 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.98 and a beta of 0.88. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $53.37 and its 200 day moving average price is $53.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. The business had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%. As a group, equities research analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share 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 issued a dividend of $0.45 per share. The ex-dividend date was Thursday, November 13th. This represents a $1.80 annualized dividend and a yield of 3.0%. Zions Bancorporation, N.A.’s dividend payout ratio is 32.26%.

Zions Bancorporation, N.A. 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.