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

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target hoisted by Evercore ISI from $62.00 to $64.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the bank’s stock.

A number of other analysts have also commented on the company. Wells Fargo & Company lifted their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They set an “overweight” rating and a $64.00 price target on the stock. TD Cowen initiated coverage on Zions Bancorporation, N.A. in a report on Thursday, September 25th. They set a “hold” rating and a $64.00 price target on the stock. Morgan Stanley lifted their price target on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, DA Davidson lifted their price target on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.45.

Zions Bancorporation, N.A. Stock Down 0.7%

ZION stock opened at $56.58 on Tuesday. 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 stock’s 50 day moving average is $55.66 and its 200-day moving average is $51.09. The firm has a market capitalization of $8.35 billion, a PE ratio of 10.34, a P/E/G ratio of 1.49 and a beta of 0.97.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results 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. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The company had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same quarter last year, the company earned $1.28 earnings per share. Sell-side analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

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

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its position in shares of Zions Bancorporation, N.A. by 7.6% during the second quarter. Parkside Financial Bank & Trust now owns 2,926 shares of the bank’s stock worth $152,000 after purchasing an additional 206 shares in the last quarter. Lynx Investment Advisory increased its position in shares of Zions Bancorporation, N.A. by 3.5% during the second quarter. Lynx Investment Advisory now owns 6,371 shares of the bank’s stock worth $331,000 after purchasing an additional 213 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Zions Bancorporation, N.A. by 3.9% during the second quarter. ProShare Advisors LLC now owns 6,543 shares of the bank’s stock worth $340,000 after purchasing an additional 244 shares in the last quarter. Blackhawk Capital Partners LLC. increased its position in shares of Zions Bancorporation, N.A. by 5.3% during the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank’s stock worth $244,000 after purchasing an additional 245 shares in the last quarter. Finally, Leo Wealth LLC increased its position in shares of Zions Bancorporation, N.A. by 1.7% during the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank’s stock worth $744,000 after purchasing an additional 253 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.