Royal Bank Of Canada Issues Positive Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) had its target price lifted by Royal Bank Of Canada from $57.00 to $62.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the bank's stock.

Several other analysts have also issued reports on ZION. Keefe, Bruyette & Woods reduced their price target on shares of Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Citigroup increased their price target on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Robert W. Baird reduced their price target on shares of Zions Bancorporation, N.A. from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, JPMorgan Chase & Co. increased 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 report on Tuesday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of "Hold" and an average price target of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $0.20 on Tuesday, reaching $55.38. 1,806,946 shares of the company's stock were exchanged, compared to its average volume of 1,631,638. The company has a fifty day moving average of $51.09 and a 200-day moving average of $50.85. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.63 and a beta of 0.90. The company has a current ratio of 0.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. During the same quarter in the prior year, the business posted $1.28 EPS. On average, research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.11%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 31.44%.

Institutional Trading of Zions Bancorporation, N.A.

A number of hedge funds have recently added to or reduced their stakes in ZION. Xponance Inc. raised its stake in shares of Zions Bancorporation, N.A. by 5.4% during the fourth quarter. Xponance Inc. now owns 16,659 shares of the bank's stock valued at $904,000 after acquiring an additional 848 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Zions Bancorporation, N.A. by 38.0% during the fourth quarter. Teacher Retirement System of Texas now owns 45,326 shares of the bank's stock valued at $2,459,000 after acquiring an additional 12,481 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Zions Bancorporation, N.A. by 4.4% during the fourth quarter. American Century Companies Inc. now owns 534,647 shares of the bank's stock valued at $29,005,000 after acquiring an additional 22,367 shares during the last quarter. Sei Investments Co. raised its stake in shares of Zions Bancorporation, N.A. by 39.7% during the fourth quarter. Sei Investments Co. now owns 97,442 shares of the bank's stock valued at $5,286,000 after acquiring an additional 27,702 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $1,628,000. Institutional investors and hedge funds 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.