Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $68.00 Price Target at Evercore ISI

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target raised by Evercore ISI from $65.00 to $68.00 in a research report released on Thursday morning,Benzinga reports. They currently have an in-line rating on the bank’s stock.

ZION has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Weiss Ratings raised Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Barclays upped their price objective on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and raised their target price for the company from $55.00 to $60.00 in a report on Wednesday, November 19th. Finally, Truist Financial upped their price target on shares of Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.32.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $64.12 on Thursday. The stock has a 50 day simple moving average of $59.03 and a 200 day simple moving average of $55.96. The stock has a market cap of $9.47 billion, a P/E ratio of 10.69 and a beta of 0.85. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $64.87. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, February 12th. Zions Bancorporation, N.A.’s payout ratio is presently 30.00%.

Insider Activity

In other news, EVP Derek Steward sold 769 shares of Zions Bancorporation, N.A. stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $60.46, for a total transaction of $46,493.74. Following the transaction, the executive vice president owned 14,307 shares in the company, valued at approximately $865,001.22. The trade was a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott J. Mclean sold 28,980 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $61.15, for a total value of $1,772,127.00. Following the completion of the sale, the president owned 82,250 shares of the company’s stock, valued at $5,029,587.50. The trade was a 26.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 31,268 shares of company stock valued at $1,911,690. Insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at approximately $32,000. Traub Capital Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at $31,000. Community Bank N.A. acquired a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $36,000. Salomon & Ludwin LLC bought a new position in Zions Bancorporation, N.A. during the third quarter worth $37,000. Finally, Steph & Co. acquired a new position in Zions Bancorporation, N.A. in the third quarter valued at $37,000. 76.84% of the stock is owned by institutional investors and hedge funds.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.