Zions Bancorporation, National Association (NASDAQ:ZION) Raised to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) from an underweight rating to an equal weight rating in a research report report published on Monday morning, Marketbeat reports. They currently have $54.00 price objective on the bank’s stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered their price target on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a hold rating on the stock in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods boosted their price target on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock a market perform rating in a research report on Tuesday, July 23rd. Wells Fargo & Company lowered their price target on shares of Zions Bancorporation, National Association from $52.00 to $50.00 and set an equal weight rating on the stock in a research report on Wednesday, August 21st. Stephens boosted their price target on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an equal weight rating in a research report on Tuesday, July 23rd. Finally, Wedbush boosted their price target on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $49.17.

Zions Bancorporation, National Association Stock Up 1.1 %

ZION stock opened at $46.19 on Monday. The stock has a market capitalization of $6.82 billion, a P/E ratio of 11.55, a P/E/G ratio of 2.81 and a beta of 1.09. The firm has a 50-day simple moving average of $47.42 and a 200-day simple moving average of $44.57. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. Zions Bancorporation, National Association has a 52 week low of $28.90 and a 52 week high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 earnings per share. Equities analysts forecast that Zions Bancorporation, National Association will post 4.51 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.55%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the sale, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the sale, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the sale, the president now directly owns 74,286 shares in the company, valued at $3,850,243.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,073 shares of company stock worth $3,476,298. 2.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Large investors have recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 1st quarter valued at approximately $27,000. Jones Financial Companies Lllp purchased a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at approximately $29,000. ORG Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 2nd quarter valued at approximately $33,000. International Assets Investment Management LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 2nd quarter valued at approximately $34,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Zions Bancorporation, National Association in the 2nd quarter valued at approximately $39,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.