Barclays Raises Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $59.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target upped by investment analysts at Barclays from $52.00 to $59.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 6.50% from the company’s previous close.

A number of other research firms have also recently weighed in on ZION. The Goldman Sachs Group increased their price objective on Zions Bancorporation, National Association from $59.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price target on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Compass Point boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial raised their target price on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.25.

Zions Bancorporation, National Association Stock Up 0.7 %

Shares of NASDAQ:ZION opened at $55.40 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 5.10 and a beta of 1.12. The firm’s 50 day moving average price is $57.07 and its 200 day moving average price is $50.92.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same period last year, the firm posted $1.13 EPS. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction on Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $209,306.30. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,434,894.84. The trade was a 12.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the sale, the vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock valued at $1,108,184 in the last ninety days. Company insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after acquiring an additional 929,251 shares in the last quarter. State Street Corp raised its stake in shares of Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Zions Bancorporation, National Association by 165.0% during the third quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after purchasing an additional 563,889 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Zions Bancorporation, National Association by 25.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after purchasing an additional 538,049 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Zions Bancorporation, National Association in the third quarter worth about $24,647,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.