Zions Bancorporation, N.A. (NASDAQ:ZION) Sets New 1-Year High – Here’s What Happened

Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $60.77 and last traded at $60.21, with a volume of 1818083 shares. The stock had previously closed at $59.94.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a research report on Monday, December 15th. Zacks Research cut shares of Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Evercore ISI upped their target price on shares of Zions Bancorporation, N.A. from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Bank of America raised shares of Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $59.00 to $62.00 in a research note on Thursday, October 23rd. Finally, Piper Sandler lowered their price target on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.35.

Zions Bancorporation, N.A. Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The firm’s 50-day moving average price is $53.65 and its two-hundred day moving average price is $54.20. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.99 and a beta of 0.88.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. The firm had revenue of $705.00 million during the quarter. On average, analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, November 13th. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 2,458 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $53.11, for a total value of $130,544.38. Following the completion of the transaction, the executive vice president directly owned 27,133 shares in the company, valued at approximately $1,441,033.63. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.77% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently modified their holdings of ZION. Hudson Bay Capital Management LP purchased a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at about $6,722,000. IFP Advisors Inc increased its position in shares of Zions Bancorporation, N.A. by 565.0% during the third quarter. IFP Advisors Inc now owns 2,793 shares of the bank’s stock valued at $163,000 after acquiring an additional 2,373 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Zions Bancorporation, N.A. during the third quarter valued at about $390,000. Strategic Advocates LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at approximately $90,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Zions Bancorporation, N.A. by 88.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,425 shares of the bank’s stock worth $194,000 after purchasing an additional 1,606 shares during the period. 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.