DA Davidson Issues Positive Forecast for Zions Bancorporation, National Association (NASDAQ:ZION) Stock Price

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective hoisted by DA Davidson from $66.00 to $69.00 in a research report released on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock.

A number of other research analysts also recently weighed in on the company. Compass Point upped their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, January 7th. Robert W. Baird raised their price objective on 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. Wells Fargo & Company upped their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Barclays lifted their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus target price of $60.71.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock opened at $58.09 on Wednesday. The business has a 50 day moving average of $57.21 and a 200 day moving average of $51.92. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22. The company has a market cap of $8.58 billion, a PE ratio of 13.23, a P/E/G ratio of 3.11 and a beta of 1.12. 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 posted its earnings results on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787,704.90 billion. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. As a group, equities research analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value 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 $1,434,894.84. The trade was a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock valued at $1,108,184 over the last three months. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently made changes to their positions in ZION. Hsbc Holdings PLC boosted its holdings in shares of Zions Bancorporation, National Association by 1.2% in the second quarter. Hsbc Holdings PLC now owns 30,247 shares of the bank’s stock worth $1,312,000 after buying an additional 363 shares during the last quarter. Sei Investments Co. grew its position in shares of Zions Bancorporation, National Association by 1.9% during the 2nd quarter. Sei Investments Co. now owns 74,861 shares of the bank’s stock valued at $3,246,000 after acquiring an additional 1,394 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of Zions Bancorporation, National Association by 7.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 46,479 shares of the bank’s stock worth $2,016,000 after purchasing an additional 3,240 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter worth $529,000. Finally, Abich Financial Wealth Management LLC lifted its position in Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.