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

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

ZION has been the subject of several other reports. Royal Bank of Canada increased their price objective on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. UBS Group initiated coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective on the stock. Wolfe Research upgraded shares of Zions Bancorporation, National Association to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird boosted their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group reduced their price objective on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. One equities research 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 MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of “Hold” and a consensus target price of $58.25.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION opened at $54.87 on Tuesday. Zions Bancorporation, National Association has a 1 year low of $37.76 and a 1 year high of $63.22. The company has a fifty day simple moving average of $57.16 and a 200 day simple moving average of $50.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The company 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.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued 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 return on equity of 13.89% and a net margin of 14.09%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. During the same period last year, the business posted $1.13 earnings per share. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 4.85 EPS for the current year.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.43 per share. The ex-dividend date 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 dividend on an annualized basis and a yield of 3.13%. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

Insider Activity at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock valued at $1,108,184 in the last three months. Corporate insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several large investors have recently made changes to their positions in ZION. Neville Rodie & Shaw Inc. bought a new stake in Zions Bancorporation, National Association during the 4th quarter worth about $477,000. Nordea Investment Management AB grew its position in shares of Zions Bancorporation, National Association by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 225,840 shares of the bank’s stock worth $12,306,000 after buying an additional 13,329 shares during the period. GAMMA Investing LLC raised its stake in shares of Zions Bancorporation, National Association by 4.4% during the fourth quarter. GAMMA Investing LLC now owns 9,514 shares of the bank’s stock worth $516,000 after buying an additional 403 shares during the last quarter. Franklin Resources Inc. boosted its stake in Zions Bancorporation, National Association by 13.6% in the third quarter. Franklin Resources Inc. now owns 203,567 shares of the bank’s stock valued at $10,195,000 after acquiring an additional 24,414 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter worth $226,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

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.