Wells Fargo & Company Cuts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $50.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price decreased by equities research analysts at Wells Fargo & Company from $52.00 to $50.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.92% from the stock’s current price.

ZION has been the topic of a number of other reports. Compass Point raised 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. Royal Bank of Canada lifted their target price on shares of Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. UBS Group lowered their target price on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Finally, Truist Financial raised their price target on shares of Zions Bancorporation, National Association from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.61.

Zions Bancorporation, National Association Trading Down 0.1 %

ZION stock traded down $0.03 during trading on Wednesday, hitting $46.33. The company had a trading volume of 104,811 shares, compared to its average volume of 2,291,542. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. Zions Bancorporation, National Association has a 52-week low of $28.90 and a 52-week high of $53.32. The company has a 50 day simple moving average of $45.87 and a 200-day simple moving average of $43.03. The firm has a market capitalization of $6.84 billion, a P/E ratio of 11.65, a PEG ratio of 2.81 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.18. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $761.61 million. During the same period in the prior year, the business earned $1.11 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that Zions Bancorporation, National Association will post 4.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the sale, the vice president now directly owns 17,857 shares in the company, valued at $925,528.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the transaction, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Terry Alan Shirey sold 1,917 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 67,073 shares of company stock worth $3,476,298 over the last three months. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several hedge funds have recently modified their holdings of the stock. Creative Planning lifted its holdings in shares of Zions Bancorporation, National Association by 2.0% during the second quarter. Creative Planning now owns 20,062 shares of the bank’s stock worth $870,000 after purchasing an additional 386 shares during the period. Algert Global LLC lifted its holdings in shares of Zions Bancorporation, National Association by 19.4% during the second quarter. Algert Global LLC now owns 91,784 shares of the bank’s stock worth $3,981,000 after purchasing an additional 14,914 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 75.0% during the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after purchasing an additional 433,513 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares during the period. Finally, Alpha DNA Investment Management LLC purchased a new position in Zions Bancorporation, National Association in the second quarter worth $529,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association 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.