Morgan Stanley Raises Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $42.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price lifted by Morgan Stanley from $39.00 to $42.00 in a report published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the bank’s stock.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their price target on shares of Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a neutral rating in a research note on Tuesday. Wedbush increased their target price on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a neutral rating in a report on Tuesday. Keefe, Bruyette & Woods boosted their target price on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a market perform rating in a research note on Tuesday. Stephens raised their target price on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an equal weight rating in a research report on Tuesday. Finally, UBS Group reduced their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a neutral rating on the stock in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $48.06.

Zions Bancorporation, National Association Price Performance

ZION stock opened at $51.80 on Tuesday. Zions Bancorporation, National Association has a one year low of $28.90 and a one year high of $53.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $7.65 billion, a PE ratio of 13.02, a P/E/G ratio of 5.36 and a beta of 1.11. The firm has a 50 day simple moving average of $44.04 and a two-hundred day simple moving average of $42.41.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly 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. The firm had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a return on equity of 14.13% and a net margin of 13.53%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. On average, analysts predict that Zions Bancorporation, National Association will post 4.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the completion of the sale, the executive vice president now owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Alan M. Forney sold 1,500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total value of $65,520.00. Following the completion of the sale, the chief executive officer now directly owns 22,181 shares in the company, valued at approximately $968,866.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca K. Robinson sold 5,291 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,296 shares of company stock valued at $319,192. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZION. Fidelis Capital Partners LLC bought a new stake in shares of Zions Bancorporation, National Association during the 1st quarter valued at $27,000. Federated Hermes Inc. boosted its position in shares of Zions Bancorporation, National Association by 105.4% during the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock worth $28,000 after acquiring an additional 331 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Zions Bancorporation, National Association during the 4th quarter valued at about $29,000. ORG Partners LLC bought a new stake in shares of Zions Bancorporation, National Association in the second quarter worth about $33,000. Finally, Quarry LP bought a new stake in Zions Bancorporation, National Association in the 4th quarter worth approximately $49,000. 76.84% of the stock is currently owned by institutional investors.

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.