The Goldman Sachs Group Raises Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $59.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target lifted by The Goldman Sachs Group from $52.00 to $59.00 in a research note published on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the bank’s stock.

ZION has been the topic of a number of other reports. Wedbush upped their target price on 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. Keefe, Bruyette & Woods upped their price objective on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Compass Point raised their price target on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.82.

Zions Bancorporation, National Association Stock Down 1.6 %

Shares of NASDAQ ZION opened at $51.34 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.78 and a debt-to-equity ratio of 0.09. The firm has a market cap of $7.58 billion, a PE ratio of 12.90, a P/E/G ratio of 1.93 and a beta of 1.09. The company’s fifty day simple moving average is $48.07 and its 200 day simple moving average is $45.48. Zions Bancorporation, National Association has a 12-month low of $28.98 and a 12-month high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, sell-side analysts forecast that Zions Bancorporation, National Association will post 4.6 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 annualized dividend and a yield of 3.19%. Zions Bancorporation, National Association’s payout ratio is 41.21%.

Insiders Place Their Bets

In other news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now owns 17,857 shares of the company’s stock, valued at $925,528.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank raised its holdings in Zions Bancorporation, National Association by 331.1% during the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after acquiring an additional 91,289 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Zions Bancorporation, National Association during the 1st quarter valued at $1,959,000. Retirement Systems of Alabama lifted its holdings in Zions Bancorporation, National Association by 469.8% during the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock worth $8,074,000 after purchasing an additional 153,387 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Zions Bancorporation, National Association by 345.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock valued at $3,831,000 after buying an additional 68,445 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Zions Bancorporation, National Association by 71.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock valued at $5,136,000 after buying an additional 49,213 shares during the period. Institutional investors own 76.84% of the company’s stock.

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.