Zions Bancorporation, National Association (NASDAQ:ZION) Hits New 52-Week High – What’s Next?

Shares of Zions Bancorporation, National Association (NASDAQ:ZION) reached a new 52-week high on Monday . The stock traded as high as $63.08 and last traded at $62.38, with a volume of 81547 shares traded. The stock had previously closed at $60.58.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZION shares. Robert W. Baird lifted 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. Truist Financial upped their target price on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Barclays lifted their price target on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group raised their price objective on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Compass Point increased their price target on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.63.

Zions Bancorporation, National Association Stock Performance

The business has a fifty day simple moving average of $51.81 and a 200-day simple moving average of $47.68. The firm has a market cap of $9.22 billion, a P/E ratio of 13.80, a P/E/G ratio of 5.36 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion during 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 last year, the firm earned $1.13 earnings per share. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company 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 positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $209,306.30. Following the completion of the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,434,894.84. The trade was a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction 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 owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,228 shares of company stock worth $519,048 in the last three months. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently bought and sold shares of ZION. ORG Wealth Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association during the third quarter worth about $28,000. ORG Partners LLC purchased a new position in Zions Bancorporation, National Association during the second quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new position in shares of Zions Bancorporation, National Association during the 2nd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new position in shares of Zions Bancorporation, National Association during the 2nd quarter valued at approximately $39,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Zions Bancorporation, National Association by 49.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock worth $49,000 after acquiring an additional 372 shares in the last quarter. 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.