Zions Bancorporation, National Association (NASDAQ:ZION) Sets New 1-Year High – Time to Buy?

Zions Bancorporation, National Association (NASDAQ:ZION) shares hit a new 52-week high on Wednesday . The stock traded as high as $57.83 and last traded at $57.64, with a volume of 54638 shares trading hands. The stock had previously closed at $52.02.

Analyst Ratings Changes

Several brokerages recently commented on ZION. Argus downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their target price on Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Wedbush increased their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.12.

Zions Bancorporation, National Association Price Performance

The company’s 50-day moving average is $49.02 and its 200-day moving average is $46.30. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 5.37 and a beta of 1.07. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping 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 firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. During the same period in the prior year, the company earned $1.13 earnings per share. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a $0.43 dividend. The ex-dividend date is Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.99%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 37.36%.

Insider Transactions at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 in the company, valued at approximately $1,321,210.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Zions Bancorporation, National Association by 13.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,407 shares of the bank’s stock valued at $2,757,000 after purchasing an additional 8,145 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Zions Bancorporation, National Association during the 1st quarter worth approximately $27,000. 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 worth $3,831,000 after acquiring an additional 68,445 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Zions Bancorporation, National Association by 334.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 129,658 shares of the bank’s stock valued at $5,627,000 after acquiring an additional 99,793 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Zions Bancorporation, National Association by 18.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,589 shares of the bank’s stock valued at $460,000 after acquiring an additional 1,680 shares during the last quarter. 76.84% of the stock is currently 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.