Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 1-Year High – Here’s What Happened

Zions Bancorporation, National Association (NASDAQ:ZION)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $61.10 and last traded at $61.10, with a volume of 103489 shares changing hands. The stock had previously closed at $59.69.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZION. Keefe, Bruyette & Woods boosted their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. Robert W. Baird upped their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Wedbush upped their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.12.

Zions Bancorporation, National Association Stock Up 2.1 %

The company has a market cap of $9.00 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 5.35 and a beta of 1.07. The company has a 50 day moving average of $49.63 and a 200-day moving average of $46.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted 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. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same quarter last year, the company earned $1.13 earnings per share. On average, equities analysts predict that Zions Bancorporation, National Association will post 4.82 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s payout ratio is currently 37.36%.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at $1,321,210.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at $1,321,210.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction that occurred on 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 directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,228 shares of company stock worth $519,048 in the last 90 days. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new position in Zions Bancorporation, National Association in the 3rd quarter valued at approximately $28,000. ORG Partners LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter valued at approximately $34,000. Rothschild Investment LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter valued at approximately $39,000. Finally, Abich Financial Wealth Management LLC raised its stake in Zions Bancorporation, National Association by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock valued at $49,000 after buying an additional 372 shares during the last quarter. 76.84% of the stock is owned by 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.