Zions Bancorporation, N.A. (NASDAQ:ZION) Shares Gap Down - Should You Sell?

Key Points

• Zions Bancorporation, N.A. (NASDAQ:ZION) experienced a significant gap down in stock price, opening at $51.12 after closing at $54.03, and last trading at $50.63.
• Multiple analysts have revised their price targets for ZION, with Cantor Fitzgerald setting an "overweight" rating and a target of $64.00, while the average target price is currently $61.45.
• The company increased its quarterly dividend from $0.43 to $0.45, yielding approximately 3.6%, with a payout ratio of 32.91%.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $54.03, but opened at $51.12. Zions Bancorporation, N.A. shares last traded at $50.63, with a volume of 585,860 shares traded.

Analysts Set New Price Targets

Several research firms have commented on ZION. Citigroup increased their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company increased their price objective on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Cantor Fitzgerald began coverage on shares of Zions Bancorporation, N.A. in a research report on Wednesday, September 10th. They set an "overweight" rating and a $64.00 price objective for the company. Robert W. Baird increased their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Zions Bancorporation, N.A. in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $61.45.

Zions Bancorporation, N.A. Stock Performance

The business's 50-day moving average price is $56.00 and its 200-day moving average price is $51.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.41 billion, a PE ratio of 9.17, a P/E/G ratio of 1.17 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $705.00 million for the quarter. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $0.45 dividend. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.6%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is 32.91%.

Institutional Trading of Zions Bancorporation, N.A.

A number of institutional investors have recently bought and sold shares of ZION. AQR Capital Management LLC boosted its stake in Zions Bancorporation, N.A. by 326.4% in the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock worth $139,927,000 after purchasing an additional 2,194,514 shares in the last quarter. Norges Bank acquired a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth approximately $80,883,000. Fuller & Thaler Asset Management Inc. boosted its stake in Zions Bancorporation, N.A. by 57.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank's stock worth $106,368,000 after purchasing an additional 778,861 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Zions Bancorporation, N.A. by 168.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,209,455 shares of the bank's stock worth $62,819,000 after purchasing an additional 758,855 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth approximately $32,008,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.