Zions Bancorporation, N.A. (NASDAQ:ZION) Reaches New 1-Year High – Time to Buy?

Zions Bancorporation, N.A. (NASDAQ:ZION)’s share price hit a new 52-week high on Tuesday . The company 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.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $60.00 in a report on Wednesday, November 19th. Robert W. Baird upgraded Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Friday, October 17th. TD Cowen initiated coverage on Zions Bancorporation, N.A. in a research note on Thursday, September 25th. They set a “hold” rating and a $64.00 target price for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a research report on Monday. Finally, Bank of America upgraded Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $59.00 to $62.00 in a report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus price target of $61.35.

Zions Bancorporation, N.A. Price Performance

The company has a market cap of $8.79 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.98 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $53.84 and a two-hundred day moving average price of $54.30.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. The firm had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%. As a group, equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

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

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 2,458 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the transaction, the executive vice president owned 27,133 shares in the company, valued at $1,441,033.63. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.22% of the stock is owned by company insiders.

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

A number of hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at $6,722,000. IFP Advisors Inc lifted its holdings 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 period. Swiss Life Asset Management Ltd bought a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $390,000. Strategic Advocates LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $90,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in 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 valued at $194,000 after purchasing an additional 1,606 shares during the last quarter. 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.