Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 1-Year High – Here’s What Happened

Zions Bancorporation, National Association (NASDAQ:ZION)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $61.10 and last traded at $61.10, with a volume of 103489 shares changing hands. The stock had previously closed at $59.69.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZION. Jefferies Financial Group reduced their price target on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. Compass Point lifted their price target on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Truist Financial boosted their target price on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.12.

Zions Bancorporation, National Association Stock Up 2.1 %

The firm has a fifty day moving average price of $49.63 and a 200 day moving average price of $46.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The company has a market cap of $9.00 billion, a P/E ratio of 13.60, a PEG ratio of 5.35 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $781.63 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.82 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.82%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 37.36%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association 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 completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,228 shares of company stock worth $519,048. 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 ZION. Price T Rowe Associates Inc. MD boosted its stake in shares of Zions Bancorporation, National Association by 103.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock worth $7,163,000 after acquiring an additional 4,993,164 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Zions Bancorporation, National Association by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after acquiring an additional 929,251 shares during the period. Artemis Investment Management LLP boosted its stake 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 acquiring an additional 563,889 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after acquiring an additional 538,049 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Zions Bancorporation, National Association by 75.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after acquiring an additional 433,513 shares during the period. 76.84% of the stock is currently owned by institutional investors.

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.