Zions Bancorporation, National Association (NASDAQ:ZION) Lifted to “Hold” at Wolfe Research

Wolfe Research upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) to a hold rating in a report released on Wednesday, Zacks.com reports.

A number of other brokerages have also commented on ZION. Compass Point upped their price objective on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Jefferies Financial Group cut their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a hold rating for the company in a report on Wednesday, September 11th. Robert W. Baird lifted their price objective on Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. StockNews.com upgraded Zions Bancorporation, National Association from a sell rating to a hold rating in a research note on Tuesday, July 30th. Finally, Truist Financial reduced their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set a hold rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of Hold and an average price target of $48.72.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION opened at $47.99 on Wednesday. Zions Bancorporation, National Association has a fifty-two week low of $28.90 and a fifty-two week high of $53.32. The stock’s 50-day moving average is $48.00 and its two-hundred day moving average is $44.24. The firm has a market cap of $7.09 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. During the same period in the previous year, the company earned $1.11 earnings per share. Zions Bancorporation, National Association’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts anticipate that Zions Bancorporation, National Association will post 4.52 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 41.21%.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the transaction, the executive vice president now owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the transaction, the executive vice president now owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The disclosure for this sale can be found here. Insiders sold a total of 67,073 shares of company stock valued at $3,476,298 over the last three months. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank grew its stake in shares of Zions Bancorporation, National Association by 331.1% during the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock worth $5,159,000 after acquiring an additional 91,289 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Zions Bancorporation, National Association in the first quarter valued at $1,959,000. Retirement Systems of Alabama grew its position in Zions Bancorporation, National Association by 469.8% in the first quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after purchasing an additional 153,387 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Zions Bancorporation, National Association by 345.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock valued at $3,831,000 after buying an additional 68,445 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Zions Bancorporation, National Association by 22.3% during the 4th quarter. Corient Private Wealth LLC now owns 113,846 shares of the bank’s stock worth $4,994,000 after buying an additional 20,721 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association 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.