JPMorgan Chase & Co. Lowers Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target trimmed by JPMorgan Chase & Co. from $65.00 to $62.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

ZION has been the topic of several other research reports. Wells Fargo & Company lifted their price objective on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday. Stephens raised their price objective 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. Truist Financial upped their target price on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, UBS Group assumed coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.25.

Zions Bancorporation, National Association Stock Down 1.0 %

Shares of NASDAQ ZION opened at $54.87 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 debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $8.10 billion, a P/E ratio of 12.50, a P/E/G ratio of 5.10 and a beta of 1.12. The firm has a 50 day moving average price of $57.16 and a 200 day moving average price of $50.97.

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. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates 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 in the previous year, the business earned $1.13 EPS. Analysts expect that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 3.13%. Zions Bancorporation, National Association’s payout ratio is currently 39.18%.

Insider Activity at Zions Bancorporation, National Association

In related news, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 24,714 shares in the company, valued at $1,321,210.44. The trade was a 15.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,881 shares of company stock worth $1,108,184. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ZION. ORG Wealth Partners LLC acquired a new position in Zions Bancorporation, National Association during the third quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC lifted its position in shares of Zions Bancorporation, National Association by 68.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock worth $56,000 after buying an additional 526 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Zions Bancorporation, National Association by 26.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after buying an additional 296 shares in the last quarter. Acadian Asset Management LLC bought a new position in Zions Bancorporation, National Association in the second quarter valued at about $101,000. Finally, Venturi Wealth Management LLC raised its stake in Zions Bancorporation, National Association by 209.1% during the third quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after acquiring an additional 1,671 shares in the last quarter. 76.84% of the stock is 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.