Morgan Stanley Issues Positive Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective raised by Morgan Stanley from $63.00 to $70.00 in a research note published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the bank’s stock.

Several other brokerages have also recently weighed in on ZION. JPMorgan Chase & Co. lifted their price target on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Truist Financial boosted their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Finally, Cantor Fitzgerald started coverage on shares of Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They set an “overweight” rating and a $64.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.30.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock opened at $57.00 on Monday. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $8.41 billion, a P/E ratio of 10.42, a PEG ratio of 1.50 and a beta of 0.97. The stock’s 50 day moving average is $55.67 and its 200 day moving average is $51.05.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The business had revenue of $838.00 million during the quarter, compared to analyst estimates of $810.24 million. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. During the same period last year, the business earned $1.28 EPS. On average, equities research analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.2%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, August 14th. Zions Bancorporation, N.A.’s payout ratio is currently 32.91%.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $4,603,000. Wealth Enhancement Advisory Services LLC increased its position in Zions Bancorporation, N.A. by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 43,935 shares of the bank’s stock valued at $2,383,000 after buying an additional 2,712 shares in the last quarter. Versant Capital Management Inc raised its stake in Zions Bancorporation, N.A. by 63.3% in the first quarter. Versant Capital Management Inc now owns 4,804 shares of the bank’s stock valued at $240,000 after buying an additional 1,863 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Zions Bancorporation, N.A. by 5,690.4% in the first quarter. GAMMA Investing LLC now owns 550,903 shares of the bank’s stock worth $27,468,000 after acquiring an additional 541,389 shares in the last quarter. Finally, NBC Securities Inc. grew its stake in shares of Zions Bancorporation, N.A. by 158,900.0% during the first quarter. NBC Securities Inc. now owns 1,590 shares of the bank’s stock worth $79,000 after acquiring an additional 1,589 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

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.