Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 52-Week High – What’s Next?

Zions Bancorporation, National Association (NASDAQ:ZION) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.83 and last traded at $57.64, with a volume of 54638 shares traded. The stock had previously closed at $52.02.

Analyst Ratings Changes

Several brokerages recently commented on ZION. Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Stephens upped their target price on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on shares of Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Compass Point boosted their price target on shares of Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley raised their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus price target of $53.12.

Zions Bancorporation, National Association Stock Down 4.6 %

The business’s fifty day simple moving average is $49.02 and its 200 day simple moving average is $46.30. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 5.37 and a beta of 1.07. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced 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 net margin of 14.09% and a return on equity of 13.89%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same quarter in the previous year, the business earned $1.13 EPS. Equities analysts forecast that Zions Bancorporation, National Association will post 4.82 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, November 14th. Zions Bancorporation, National Association’s payout ratio is 37.36%.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased 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 purchasing an additional 929,251 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Zions Bancorporation, National Association by 25.1% in the third 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 during the period. Bank of New York Mellon Corp raised its stake in Zions Bancorporation, National Association by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock valued at $74,784,000 after buying an additional 5,609 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Zions Bancorporation, National Association by 9.7% in the second quarter. Wedge Capital Management L L P NC now owns 1,019,182 shares of the bank’s stock valued at $44,202,000 after buying an additional 90,234 shares during the last quarter. 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 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.