Stephens Increases Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $55.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target lifted by equities researchers at Stephens from $53.00 to $55.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Stephens’ price objective points to a potential upside of 7.84% from the company’s previous close.

Several other brokerages have also issued reports on ZION. Compass Point lifted their price target on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Argus lowered shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company reduced their target price on shares of Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st. Evercore ISI reduced their target price on shares of Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group reduced their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.83.

Zions Bancorporation, National Association Trading Up 3.2 %

Shares of Zions Bancorporation, National Association stock opened at $51.00 on Tuesday. The firm has a market capitalization of $7.53 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average is $47.51 and its 200 day moving average is $45.20. Zions Bancorporation, National Association has a 1 year low of $28.90 and a 1 year high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. During the same period in the previous year, the firm posted $1.13 EPS. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.53 earnings per share for the current fiscal year.

Insider Activity

In related news, President Scott J. Mclean sold 60,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the transaction, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Scott J. Mclean sold 60,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the transaction, the president now owns 74,286 shares in the company, valued at approximately $3,850,243.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock worth $3,476,298 in the last quarter. 2.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Zions Bancorporation, National Association by 197.5% during the 1st quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock valued at $24,616,000 after purchasing an additional 376,549 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Zions Bancorporation, National Association by 4.1% during the first quarter. Commonwealth Equity Services LLC now owns 57,497 shares of the bank’s stock worth $2,495,000 after acquiring an additional 2,285 shares in the last quarter. Caprock Group LLC increased its position in shares of Zions Bancorporation, National Association by 18.4% during the first quarter. Caprock Group LLC now owns 7,043 shares of the bank’s stock worth $306,000 after acquiring an additional 1,097 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Zions Bancorporation, National Association by 16.0% in the 1st quarter. HB Wealth Management LLC now owns 10,396 shares of the bank’s stock worth $451,000 after acquiring an additional 1,432 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in Zions Bancorporation, National Association by 469.8% in the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after acquiring an additional 153,387 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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.