Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $56.00 at Morgan Stanley

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target lifted by Morgan Stanley from $54.00 to $56.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the stock. Wolfe Research upgraded shares of Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. Royal Bank of Canada increased their target price on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group lifted their target price on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.82.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION opened at $51.34 on Tuesday. Zions Bancorporation, National Association has a 52-week low of $28.98 and a 52-week high of $53.32. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.93 and a beta of 1.09. 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 stock’s fifty day simple moving average is $48.07 and its 200 day simple moving average is $45.48.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter last year, the business posted $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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.19%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction dated 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 directly owns 17,857 shares in the company, valued at $925,528.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZION. Price T Rowe Associates Inc. MD boosted its position in Zions Bancorporation, National Association by 103.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock worth $7,163,000 after purchasing an additional 4,993,164 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after buying an additional 929,251 shares during the last quarter. Artemis Investment Management LLP boosted its holdings in shares of Zions Bancorporation, National Association by 165.0% during the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after buying an additional 563,889 shares during the period. AQR Capital Management LLC grew its stake in Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after buying an additional 433,513 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Zions Bancorporation, National Association by 197.5% in the 1st quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after acquiring an additional 376,549 shares during the period. Institutional investors and hedge funds 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.