Zions Bancorporation, National Association (NASDAQ:ZION) Reaches New 1-Year High – Time to Buy?

Zions Bancorporation, National Association (NASDAQ:ZION)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $63.08 and last traded at $62.38, with a volume of 81547 shares traded. The stock had previously closed at $60.58.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stephens raised their target price on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their target price on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods boosted 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 research note on Tuesday, October 22nd. Evercore ISI raised their target price on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. 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’s stock. Based on data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $54.63.

Zions Bancorporation, National Association Price Performance

The company has a market cap of $9.22 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 5.36 and a beta of 1.07. The company’s 50 day moving average price is $51.81 and its 200 day moving average price is $47.68. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same quarter last year, the firm earned $1.13 earnings per share. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm 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 is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a yield of 2.76%. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Insider Transactions at Zions Bancorporation, National Association

In related news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction 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 of the company’s stock, valued at approximately $2,182,817.52. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the sale, the executive vice president now directly owns 24,714 shares in the company, valued at $1,321,210.44. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,228 shares of company stock valued at $519,048 in the last ninety days. 2.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in shares of Zions Bancorporation, National Association in the third quarter worth $226,000. Virtu Financial LLC purchased a new position in Zions Bancorporation, National Association in the 3rd quarter valued at about $583,000. TD Private Client Wealth LLC lifted its holdings in Zions Bancorporation, National Association by 15.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank’s stock valued at $134,000 after purchasing an additional 375 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Zions Bancorporation, National Association by 9.6% during the third quarter. Coldstream Capital Management Inc. now owns 8,802 shares of the bank’s stock valued at $426,000 after buying an additional 768 shares during the period. Finally, Geode Capital Management LLC boosted its position in Zions Bancorporation, National Association by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock worth $124,592,000 after acquiring an additional 30,030 shares during the last quarter. 76.84% of the stock is 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.