Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 52-Week High After Analyst Upgrade

Zions Bancorporation, National Association (NASDAQ:ZION) hit a new 52-week high on Wednesday after Evercore ISI raised their price target on the stock from $56.00 to $61.00. Evercore ISI currently has an outperform rating on the stock. Zions Bancorporation, National Association traded as high as $53.82 and last traded at $53.79, with a volume of 153515 shares trading hands. The stock had previously closed at $52.13.

Several other research firms have also recently commented on ZION. JPMorgan Chase & Co. cut their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Argus downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Compass Point raised their target price on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price target on shares of 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. Finally, Morgan Stanley increased their price target on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in Zions Bancorporation, National Association during the 3rd quarter valued at about $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Zions Bancorporation, National Association during the 1st quarter worth approximately $27,000. ORG Partners LLC purchased a new stake in Zions Bancorporation, National Association in the 2nd quarter valued at approximately $33,000. International Assets Investment Management LLC acquired a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at $34,000. Finally, Rothschild Investment LLC acquired a new position in shares of Zions Bancorporation, National Association in the second quarter worth $39,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Up 1.6 %

The business has a 50 day moving average of $48.29 and a 200 day moving average of $45.69. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion for 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 posted $1.13 earnings per share. On average, research analysts forecast that Zions Bancorporation, National Association will post 4.75 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 annualized dividend and a yield of 3.10%. Zions Bancorporation, National Association’s payout ratio is currently 37.36%.

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.