Zions Bancorporation, National Association (NASDAQ:ZION) Stock Rating Upgraded by Wolfe Research

Zions Bancorporation, National Association (NASDAQ:ZION) was upgraded by research analysts at Wolfe Research to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

A number of other equities research analysts also recently commented on ZION. Truist Financial reduced their price objective on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set a “hold” rating for the company in a research report on Friday. Robert W. Baird upped their price target on shares of Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Compass Point raised their price objective on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Argus lowered shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group reduced their price target on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.72.

Zions Bancorporation, National Association Trading Down 0.9 %

NASDAQ ZION opened at $47.99 on Wednesday. Zions Bancorporation, National Association has a 52 week low of $28.90 and a 52 week high of $53.32. The firm has a 50 day moving average of $48.00 and a two-hundred day moving average of $44.24. The stock has a market capitalization of $7.09 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. 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 (NASDAQ:ZION) last posted its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.18. The firm had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 earnings per share. As a group, research analysts expect that Zions Bancorporation, National Association will post 4.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the transaction, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at approximately $1,275,859.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $51.83, for a total value of $3,109,800.00. Following the sale, the president now directly owns 74,286 shares in the company, valued at approximately $3,850,243.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the transaction, the executive vice president now 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 valued at $3,476,298 in the last quarter. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Zions Bancorporation, National Association by 5.5% in the 4th quarter. Principal Financial Group Inc. now owns 190,649 shares of the bank’s stock worth $8,364,000 after purchasing an additional 9,957 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth $369,000. Norges Bank purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter valued at $67,694,000. D.A. Davidson & CO. boosted its position in shares of Zions Bancorporation, National Association by 35.2% in the 4th quarter. D.A. Davidson & CO. now owns 35,430 shares of the bank’s stock valued at $1,554,000 after purchasing an additional 9,220 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Zions Bancorporation, National Association by 22.3% during the 4th quarter. Corient Private Wealth LLC now owns 113,846 shares of the bank’s stock worth $4,994,000 after buying an additional 20,721 shares during the period. 76.84% of the stock is currently 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.