Wedbush Increases Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $52.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective hoisted by investment analysts at Wedbush from $46.00 to $52.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Wedbush’s price objective indicates a potential downside of 1.61% from the company’s current price.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods upped their price target on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on Zions Bancorporation, National Association from $49.50 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Royal Bank of Canada raised their price objective on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a report on Tuesday. Jefferies Financial Group dropped their price objective on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, Wells Fargo & Company raised their price target on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock an “equal weight” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.94.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION traded up $3.37 during trading hours on Tuesday, reaching $52.85. The company’s stock had a trading volume of 1,281,991 shares, compared to its average volume of 2,368,466. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 4.99 and a beta of 1.11. Zions Bancorporation, National Association has a 1-year low of $28.90 and a 1-year high of $53.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50-day moving average is $43.62 and its two-hundred day moving average is $42.23.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.10 by $0.18. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. Zions Bancorporation, National Association’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. On average, equities analysts predict that Zions Bancorporation, National Association will post 4.36 EPS for the current year.

Insider Activity at Zions Bancorporation, National Association

In related news, CEO Alan M. Forney sold 1,500 shares of Zions Bancorporation, National Association stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now owns 22,181 shares in the company, valued at approximately $968,866.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Alan M. Forney sold 1,500 shares of Zions Bancorporation, National Association stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now owns 22,181 shares in the company, valued at approximately $968,866.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the transaction, the executive vice president now owns 22,238 shares in the company, valued at approximately $970,911.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,296 shares of company stock worth $319,192. 2.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently added to or reduced their stakes in the company. CVA Family Office LLC lifted its holdings in Zions Bancorporation, National Association by 1.0% in the 1st quarter. CVA Family Office LLC now owns 24,783 shares of the bank’s stock worth $1,076,000 after buying an additional 245 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Zions Bancorporation, National Association by 1.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 22,288 shares of the bank’s stock worth $978,000 after buying an additional 286 shares in the last quarter. Strategic Advocates LLC lifted its holdings in Zions Bancorporation, National Association by 6.1% in the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock worth $223,000 after buying an additional 296 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Zions Bancorporation, National Association by 1.2% in the 4th quarter. Yousif Capital Management LLC now owns 26,161 shares of the bank’s stock worth $1,148,000 after buying an additional 310 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Zions Bancorporation, National Association by 1.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock worth $1,174,000 after buying an additional 327 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

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.