Zions Bancorporation, National Association (NASDAQ:ZION) Lifted to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Zions Bancorporation, National Association (NASDAQ:ZION) from an underweight rating to an equal weight rating in a research note issued to investors on Monday morning, Marketbeat reports. Morgan Stanley currently has $54.00 target price on the bank’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial decreased their price target on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set a hold rating for the company in a research note on Friday, September 20th. StockNews.com upgraded shares of Zions Bancorporation, National Association from a sell rating to a hold rating in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their price target on shares of Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Wells Fargo & Company reduced their target price on shares of Zions Bancorporation, National Association from $52.00 to $50.00 and set an equal weight rating for the company in a research note on Wednesday, August 21st. Finally, Stephens raised their target price on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $49.17.

Zions Bancorporation, National Association Trading Up 1.1 %

NASDAQ ZION opened at $46.19 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s fifty day moving average price is $47.42 and its 200 day moving average price is $44.57. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.81 and a beta of 1.09. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The firm had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. Zions Bancorporation, National Association’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 EPS. On average, sell-side analysts expect that Zions Bancorporation, National Association will post 4.51 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 annualized dividend and a yield of 3.55%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 41.21%.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the completion of the transaction, the president now directly owns 74,286 shares in the company, valued at approximately $3,850,243.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the sale, the president now owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The disclosure for this sale can be found here. In the last three months, insiders sold 67,073 shares of company stock worth $3,476,298. 2.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of ZION. Fidelis Capital Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association in the first quarter worth approximately $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth approximately $29,000. ORG Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter worth approximately $34,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter worth approximately $39,000. 76.84% of the stock is currently owned by hedge funds and other 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.