Zions Bancorporation, National Association (NASDAQ:ZION) had its price target hoisted by Morgan Stanley from $47.00 to $51.00 in a research report released on Thursday, AnalystRatings.net reports. Morgan Stanley currently has an equal weight rating on the bank’s stock.
ZION has been the topic of a number of other research reports. B. Riley raised their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a buy rating in a report on Thursday. ValuEngine raised shares of Zions Bancorporation, National Association from a sell rating to a hold rating in a report on Tuesday, December 1st. Evercore ISI raised shares of Zions Bancorporation, National Association from an in-line rating to an outperform rating and set a $50.00 target price on the stock in a report on Monday, December 7th. Piper Sandler boosted their target price on shares of Zions Bancorporation, National Association from $38.00 to $43.00 and gave the stock an overweight rating in a report on Friday, November 20th. Finally, BidaskClub downgraded shares of Zions Bancorporation, National Association from a buy rating to a hold rating in a report on Tuesday, December 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $41.35.
ZION opened at $48.72 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.91 and a beta of 1.63. The company’s 50 day moving average is $42.09 and its 200 day moving average is $34.99. Zions Bancorporation, National Association has a 12-month low of $23.58 and a 12-month high of $51.66.
Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 19th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. The company had revenue of $719.00 million for the quarter, compared to the consensus estimate of $708.33 million. Zions Bancorporation, National Association had a net margin of 14.58% and a return on equity of 6.79%. During the same quarter last year, the firm posted $1.17 earnings per share. As a group, analysts predict that Zions Bancorporation, National Association will post 2.41 EPS for the current fiscal year.
In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 6,491 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $33.24, for a total value of $215,760.84. Following the completion of the sale, the executive vice president now owns 61,957 shares of the company’s stock, valued at $2,059,450.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Randy R. Stewart sold 2,148 shares of the firm’s stock in a transaction dated Tuesday, November 17th. The stock was sold at an average price of $39.48, for a total transaction of $84,803.04. Following the completion of the sale, the vice president now directly owns 9,007 shares of the company’s stock, valued at approximately $355,596.36. The disclosure for this sale can be found here. In the last three months, insiders sold 19,501 shares of company stock valued at $659,444. 1.81% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ZION. Commonwealth Equity Services LLC lifted its stake in Zions Bancorporation, National Association by 15.0% in the second quarter. Commonwealth Equity Services LLC now owns 13,787 shares of the bank’s stock worth $468,000 after purchasing an additional 1,803 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Zions Bancorporation, National Association by 9.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 14,450 shares of the bank’s stock valued at $491,000 after acquiring an additional 1,300 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Zions Bancorporation, National Association by 4,842.3% during the second quarter. Marshall Wace LLP now owns 23,476 shares of the bank’s stock valued at $798,000 after acquiring an additional 23,001 shares in the last quarter. FMR LLC raised its stake in shares of Zions Bancorporation, National Association by 2.0% during the second quarter. FMR LLC now owns 608,508 shares of the bank’s stock valued at $20,690,000 after acquiring an additional 11,662 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its stake in shares of Zions Bancorporation, National Association by 3.6% during the second quarter. First Republic Investment Management Inc. now owns 8,429 shares of the bank’s stock valued at $287,000 after acquiring an additional 293 shares in the last quarter. 86.34% of the stock is owned by institutional investors and hedge funds.
About Zions Bancorporation, National Association
Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.
Featured Story: Risk Tolerance