Royal Bank Of Canada Raises Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $64.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective hoisted by equities researchers at Royal Bank Of Canada from $63.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 4.41% from the stock’s previous close.

A number of other research analysts also recently issued reports on ZION. Morgan Stanley lifted their price target on shares of 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. Zacks Research lowered shares of Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Piper Sandler cut their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Barclays upped their target price on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Finally, UBS Group dropped their target price on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.95.

Zions Bancorporation, N.A. Trading Up 3.7%

Zions Bancorporation, N.A. stock traded up $2.21 during midday trading on Wednesday, reaching $61.30. 474,287 shares of the stock traded hands, compared to its average volume of 1,429,191. The firm has a market cap of $9.05 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $61.72. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $56.80 and a two-hundred day simple moving average of $55.55.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 20th. The bank reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.29. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. The firm had revenue of $872.00 million during the quarter, compared to analysts’ expectations of $842.68 million. During the same quarter in the previous year, the business posted $1.37 earnings per share. Research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 2,458 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the transaction, the executive vice president owned 27,133 shares of the company’s stock, valued at $1,441,033.63. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZION. Traub Capital Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at approximately $31,000. Assetmark Inc. grew its position in Zions Bancorporation, N.A. by 75.3% in the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after buying an additional 289 shares during the last quarter. Community Bank N.A. acquired a new position in Zions Bancorporation, N.A. in the 3rd quarter valued at $36,000. Steph & Co. purchased a new position in Zions Bancorporation, N.A. during the 3rd quarter worth $37,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth $37,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Company Profile

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.