Zions Bancorporation, National Association (NASDAQ:ZION) Given New $70.00 Price Target at Keefe, Bruyette & Woods

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective increased by Keefe, Bruyette & Woods from $65.00 to $70.00 in a report released on Wednesday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

ZION has been the subject of a number of other research reports. Evercore ISI boosted their price target on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday. Stephens boosted their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada raised their target price 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 investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.71.

Zions Bancorporation, National Association Stock Down 1.6 %

Shares of ZION opened at $58.09 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The firm’s 50 day moving average is $57.21 and its 200-day moving average is $51.92. The stock has a market capitalization of $8.58 billion, a PE ratio of 13.23, a P/E/G ratio of 3.11 and a beta of 1.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $787,704.90 billion. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.43 dividend. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.96%. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

Insider Activity

In other news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the sale, the vice president now owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the transaction, the executive vice president now directly owns 86,232 shares in the company, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,881 shares of company stock valued at $1,108,184. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZION. Hsbc Holdings PLC boosted its stake in shares of Zions Bancorporation, National Association by 1.2% in the 2nd quarter. Hsbc Holdings PLC now owns 30,247 shares of the bank’s stock valued at $1,312,000 after purchasing an additional 363 shares during the last quarter. Sei Investments Co. boosted its position in Zions Bancorporation, National Association by 1.9% during the second quarter. Sei Investments Co. now owns 74,861 shares of the bank’s stock valued at $3,246,000 after acquiring an additional 1,394 shares during the last quarter. Ensign Peak Advisors Inc grew 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 acquiring an additional 3,240 shares during the period. Alpha DNA Investment Management LLC acquired a new stake in Zions Bancorporation, National Association during the 2nd quarter worth about $529,000. Finally, Abich Financial Wealth Management LLC raised its position 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 acquiring an additional 296 shares in the last quarter. 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.