Evercore ISI Trims Zions Bancorporation, National Association (NASDAQ:ZION) Target Price to $56.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price cut by Evercore ISI from $58.00 to $56.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other analysts also recently weighed in on ZION. Wells Fargo & Company decreased their price target on Zions Bancorporation, National Association from $52.00 to $50.00 and set an equal weight rating for the company in a report on Wednesday, August 21st. Robert W. Baird increased their price target on Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a market perform rating in a research note on Tuesday, July 23rd. Stephens increased their target price on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Finally, Wolfe Research raised shares of Zions Bancorporation, National Association to a hold rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $49.17.

Zions Bancorporation, National Association Stock Up 3.6 %

Shares of ZION opened at $47.86 on Wednesday. The stock’s 50-day moving average price is $47.31 and its two-hundred day moving average price is $44.58. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32. The company has a market capitalization of $7.07 billion, a PE ratio of 12.03, a PEG ratio of 2.76 and a beta of 1.09. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $761.61 million. During the same period in the previous year, the firm earned $1.11 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Zions Bancorporation, National Association will post 4.53 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Insider Transactions at Zions Bancorporation, National Association

In related news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Bruce K. Alexander sold 5,156 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the sale, the president now owns 74,286 shares in the company, valued at $3,850,243.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,073 shares of company stock worth $3,476,298 in the last quarter. 2.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in Zions Bancorporation, National Association by 331.1% in the first quarter. Comerica Bank now owns 118,861 shares of the bank’s stock worth $5,159,000 after acquiring an additional 91,289 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Zions Bancorporation, National Association during the 1st quarter worth approximately $1,959,000. Retirement Systems of Alabama raised its holdings in shares of Zions Bancorporation, National Association by 469.8% in 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 during the period. Mutual of America Capital Management LLC lifted its stake in Zions Bancorporation, National Association by 345.2% in the first quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock valued at $3,831,000 after purchasing an additional 68,445 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Zions Bancorporation, National Association by 71.3% during the 1st 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 last quarter. 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.