Zions Bancorporation, N.A. (NASDAQ:ZION) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Zions Bancorporation, N.A. (NASDAQ:ZION) from a neutral rating to an outperform rating in a report published on Friday, MarketBeat Ratings reports. The firm currently has $65.00 price target on the bank’s stock.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company increased their price objective on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. TD Cowen began coverage on Zions Bancorporation, N.A. in a report on Thursday, September 25th. They issued a “hold” rating and a $64.00 price objective for the company. Piper Sandler decreased their price objective on Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley increased their price objective on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Finally, Evercore ISI increased their price objective on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and an average target price of $61.33.

Zions Bancorporation, N.A. Stock Up 5.8%

Shares of ZION opened at $49.67 on Friday. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $55.87 and a 200-day moving average of $51.50.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The company had revenue of $705.00 million during the quarter. As a group, sell-side analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 32.91%.

Institutional Trading of Zions Bancorporation, N.A.

A number of large investors have recently bought and sold shares of ZION. AQR Capital Management LLC grew its holdings in Zions Bancorporation, N.A. by 326.4% during the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock worth $139,927,000 after acquiring an additional 2,194,514 shares during the period. Norges Bank acquired a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at about $80,883,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Zions Bancorporation, N.A. by 57.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank’s stock valued at $106,368,000 after buying an additional 778,861 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Zions Bancorporation, N.A. by 168.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,209,455 shares of the bank’s stock valued at $62,819,000 after buying an additional 758,855 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at about $32,008,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. 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.