Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $48.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target lifted by research analysts at Evercore ISI from $47.00 to $48.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Evercore ISI’s price objective would indicate a potential upside of 11.21% from the stock’s current price.

A number of other research firms also recently commented on ZION. TheStreet upgraded Zions Bancorporation, National Association from a “c+” rating to a “b-” rating in a report on Wednesday, January 3rd. Barclays raised their target price on Zions Bancorporation, National Association from $35.00 to $47.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Zions Bancorporation, National Association in a report on Tuesday, January 23rd. The Goldman Sachs Group raised their price objective on Zions Bancorporation, National Association from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, December 18th. Finally, Morgan Stanley raised their price objective on Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.16.

Zions Bancorporation, National Association Price Performance

Shares of ZION traded up $0.01 during trading hours on Thursday, reaching $43.16. 422,811 shares of the company traded hands, compared to its average volume of 3,299,622. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $6.37 billion, a PE ratio of 9.92 and a beta of 1.12. Zions Bancorporation, National Association has a fifty-two week low of $18.26 and a fifty-two week high of $46.15. The stock has a fifty day simple moving average of $40.80 and a 200 day simple moving average of $38.33.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). Zions Bancorporation, National Association had a return on equity of 15.33% and a net margin of 14.71%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $754.81 million. During the same period in the previous year, the business posted $1.84 earnings per share. As a group, research analysts predict that Zions Bancorporation, National Association will post 4.32 EPS for the current fiscal year.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 4,093 shares of Zions Bancorporation, National Association stock in a transaction on Friday, January 26th. The stock was sold at an average price of $44.25, for a total transaction of $181,115.25. Following the sale, the vice president now owns 14,665 shares of the company’s stock, valued at approximately $648,926.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Harris H. Simmons bought 3,600 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $38.99 per share, with a total value of $140,364.00. Following the completion of the transaction, the chief executive officer now directly owns 1,261,866 shares of the company’s stock, valued at $49,200,155.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP A Scott Anderson sold 4,093 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $44.25, for a total value of $181,115.25. Following the sale, the vice president now directly owns 14,665 shares in the company, valued at $648,926.25. The disclosure for this sale can be found here. Insiders have sold 18,022 shares of company stock valued at $744,893 in the last quarter. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Zions Bancorporation, National Association by 0.3% during the second quarter. BlackRock Inc. now owns 10,446,271 shares of the bank’s stock valued at $280,587,000 after buying an additional 32,883 shares in the last quarter. State Street Corp grew its stake in Zions Bancorporation, National Association by 14.9% in the first quarter. State Street Corp now owns 8,262,892 shares of the bank’s stock valued at $247,308,000 after purchasing an additional 1,069,816 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Zions Bancorporation, National Association by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock valued at $220,077,000 after purchasing an additional 927,899 shares in the last quarter. Morgan Stanley boosted its stake in shares of Zions Bancorporation, National Association by 19.8% during the 3rd quarter. Morgan Stanley now owns 4,513,266 shares of the bank’s stock worth $157,468,000 after acquiring an additional 745,919 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Zions Bancorporation, National Association by 1.4% during the 3rd quarter. Invesco Ltd. now owns 3,973,319 shares of the bank’s stock worth $138,629,000 after acquiring an additional 53,859 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association 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.