Zions Bancorporation, N.A. (NASDAQ:ZION) Upgraded at Jefferies Financial Group

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a $60.00 target price on the bank’s stock, up from their previous target price of $55.00. Jefferies Financial Group’s target price indicates a potential upside of 21.61% from the company’s previous close.

Other analysts have also issued reports about the stock. Baird R W upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Morgan Stanley lifted their price target on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Wells Fargo & Company increased their price objective on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald assumed coverage on shares of Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They issued an “overweight” rating and a $64.00 target price on the stock. Finally, Robert W. Baird raised shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.29.

Zions Bancorporation, N.A. Stock Up 0.9%

Shares of ZION opened at $49.34 on Wednesday. The firm has a market cap of $7.28 billion, a P/E ratio of 8.84, a P/E/G ratio of 0.85 and a beta of 0.96. The stock has a 50 day simple moving average of $54.18 and a two-hundred day simple moving average of $52.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. The firm had revenue of $705.00 million during the quarter. On average, analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Insider Activity at Zions Bancorporation, N.A.

In other 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 value of $130,544.38. Following the completion of the sale, the executive vice president directly owned 27,133 shares of the company’s stock, valued at approximately $1,441,033.63. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.77% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently bought and sold shares of ZION. Kestra Private Wealth Services LLC raised its position in shares of Zions Bancorporation, N.A. by 2.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 19,319 shares of the bank’s stock worth $963,000 after acquiring an additional 540 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Zions Bancorporation, N.A. by 9.5% in the first quarter. Allianz Asset Management GmbH now owns 450,600 shares of the bank’s stock worth $22,467,000 after purchasing an additional 39,108 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Zions Bancorporation, N.A. by 85.6% in the first quarter. Y Intercept Hong Kong Ltd now owns 24,407 shares of the bank’s stock worth $1,217,000 after purchasing an additional 11,257 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 12.1% during the 1st quarter. AE Wealth Management LLC now owns 72,031 shares of the bank’s stock valued at $3,592,000 after buying an additional 7,748 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Zions Bancorporation, N.A. by 18.9% during the 1st quarter. Cetera Investment Advisers now owns 41,060 shares of the bank’s stock valued at $2,047,000 after buying an additional 6,519 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.