UBS Group Initiates Coverage on Zions Bancorporation, National Association (NASDAQ:ZION)

UBS Group initiated coverage on shares of Zions Bancorporation, National Association (NASDAQ:ZION) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued a neutral rating and a $64.00 price objective on the bank’s stock.

A number of other equities research analysts also recently weighed in on ZION. Evercore ISI raised their price target on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wedbush raised their target price on shares of 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. Keefe, Bruyette & Woods upped their price target 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, October 22nd. Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley boosted their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.06.

Zions Bancorporation, National Association Stock Down 1.4 %

Shares of ZION opened at $52.36 on Tuesday. The firm has a 50 day simple moving average of $56.18 and a two-hundred day simple moving average of $49.58. The company has a market cap of $7.73 billion, a P/E ratio of 11.93, a P/E/G ratio of 5.10 and a beta of 1.10. Zions Bancorporation, National Association has a one year low of $37.76 and a one year high of $63.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same quarter in the previous year, the firm earned $1.13 EPS. Research analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.43 dividend. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio is currently 39.18%.

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the sale, the vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,881 shares of company stock worth $1,108,184 over the last three months. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC bought a new stake in shares of Zions Bancorporation, National Association during the third quarter valued at approximately $28,000. International Assets Investment Management LLC acquired a new position in Zions Bancorporation, National Association during the second quarter worth $34,000. Rothschild Investment LLC bought a new position in shares of Zions Bancorporation, National Association in the second quarter valued at $39,000. New Millennium Group LLC acquired a new position in shares of Zions Bancorporation, National Association during the second quarter valued at about $55,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Zions Bancorporation, National Association by 68.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock worth $56,000 after acquiring an additional 526 shares in the last quarter. 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.