Zions Bancorporation, National Association (NASDAQ:ZION) Now Covered by UBS Group

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

Other analysts have also issued reports about the stock. Royal Bank of Canada increased their price target on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their target price on shares of 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. Truist Financial boosted their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price objective on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Compass Point boosted their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $57.06.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock opened at $56.22 on Tuesday. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The stock has a market cap of $8.30 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10. The company’s 50-day moving average price is $56.00 and its two-hundred day moving average price is $49.54.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating 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 business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same quarter last year, the company posted $1.13 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Thursday, November 14th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 39.18%.

Insider Activity

In other news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares in the company, valued at $5,265,325.92. The trade was a 9.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the completion of the transaction, the executive vice president now owns 24,714 shares in the company, valued at $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,881 shares of company stock valued at $1,108,184. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after acquiring an additional 896,889 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, National Association by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after purchasing an additional 929,251 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Zions Bancorporation, National Association by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock valued at $221,367,000 after buying an additional 140,084 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after buying an additional 538,049 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Zions Bancorporation, National Association by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock worth $124,592,000 after buying an additional 30,030 shares during the period. 76.84% of the stock is currently owned by institutional investors.

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.