Zions Bancorporation, National Association (NASDAQ:ZION) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) from a sell rating to a hold rating in a research note released on Friday.

Several other analysts also recently weighed in on ZION. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Zions Bancorporation, National Association in a report on Wednesday, April 10th. They issued a hold rating and a $47.00 target price on the stock. Evercore ISI boosted their target price on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. UBS Group cut their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a neutral rating for the company in a research note on Tuesday, April 23rd. Jefferies Financial Group decreased their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a hold rating on the stock in a research note on Monday, April 8th. Finally, Truist Financial reiterated a hold rating and issued a $46.00 price objective on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $43.82.

Zions Bancorporation, National Association Stock Down 0.1 %

Zions Bancorporation, National Association stock opened at $43.32 on Friday. The stock has a 50 day moving average of $42.51 and a two-hundred day moving average of $41.94. Zions Bancorporation, National Association has a twelve month low of $26.69 and a twelve month high of $46.15. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 4.99 and a beta of 1.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.01.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. During the same period in the prior year, the business earned $1.33 earnings per share. As a group, research analysts expect that Zions Bancorporation, National Association will post 4.37 earnings per share for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.79%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 41.21%.

Insider Activity

In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the sale, the chief executive officer now directly owns 22,181 shares of the company’s stock, valued at approximately $968,866.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now owns 22,181 shares of the company’s stock, valued at approximately $968,866.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The disclosure for this sale can be found here. Insiders have sold 7,296 shares of company stock worth $319,192 over the last three months. 2.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Zions Bancorporation, National Association by 103.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock valued at $7,163,000 after purchasing an additional 4,993,164 shares in the last quarter. Norges Bank purchased a new position in Zions Bancorporation, National Association in the fourth quarter valued at approximately $67,694,000. Vaughan Nelson Investment Management L.P. lifted its position in Zions Bancorporation, National Association by 119.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after buying an additional 1,259,571 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Zions Bancorporation, National Association by 22.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock worth $220,077,000 after buying an additional 927,899 shares during the period. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Zions Bancorporation, National Association in the third quarter worth $28,113,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.