Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Cut to $62.00 by Analysts at JPMorgan Chase & Co.

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target decreased by JPMorgan Chase & Co. from $68.00 to $62.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the bank’s stock.

Other equities analysts have also issued reports about the company. Robert W. Baird raised shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Monday, March 9th. Barclays increased their price target on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Stephens raised their price objective on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. TD Cowen boosted their price objective on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. Finally, Evercore upped their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.95.

Zions Bancorporation, N.A. Trading Up 1.1%

Shares of ZION stock opened at $58.26 on Wednesday. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $66.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day simple moving average is $58.71 and its 200-day simple moving average is $56.77. The firm has a market cap of $8.57 billion, a P/E ratio of 9.71 and a beta of 0.81.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were given a $0.45 dividend. The ex-dividend date was Thursday, February 12th. This represents a $1.80 annualized dividend and a yield of 3.1%. Zions Bancorporation, N.A.’s dividend payout ratio is 30.00%.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Steven Dan Stephens sold 15,476 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $65.90, for a total transaction of $1,019,868.40. Following the transaction, the executive vice president owned 41,127 shares in the company, valued at $2,710,269.30. This trade represents a 27.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Scott J. Mclean sold 28,980 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $61.15, for a total value of $1,772,127.00. Following the completion of the sale, the president owned 82,250 shares of the company’s stock, valued at $5,029,587.50. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,581 shares of company stock worth $3,498,774 in the last ninety days. 2.22% of the stock is currently owned by corporate insiders.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Torren Management LLC acquired a new position in Zions Bancorporation, N.A. in the fourth quarter worth approximately $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth $32,000. Community Bank N.A. bought a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth $36,000. Atlas Capital Advisors Inc. acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth $36,000. Finally, Steph & Co. acquired a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter worth $37,000. 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.