Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $69.00 at DA Davidson

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price boosted by investment analysts at DA Davidson from $66.00 to $69.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 17.33% from the stock’s current price.

Several other equities analysts have also commented on ZION. Stephens increased their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Wedbush boosted their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.82.

Zions Bancorporation, National Association Price Performance

ZION opened at $58.81 on Wednesday. The firm has a market capitalization of $8.69 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12. The business’s 50-day moving average is $57.25 and its two-hundred day moving average is $51.88. Zions Bancorporation, National Association has a 1 year low of $37.76 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787,704.90 billion. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. Zions Bancorporation, National Association’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. Research analysts anticipate that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,881 shares of company stock worth $1,108,184. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZION. Virtu Financial LLC acquired a new stake in Zions Bancorporation, National Association in the 3rd quarter valued at about $583,000. Cornercap Investment Counsel Inc. acquired a new stake in Zions Bancorporation, National Association in the third quarter valued at approximately $510,000. Sequoia Financial Advisors LLC lifted its stake in Zions Bancorporation, National Association by 1.9% in the third quarter. Sequoia Financial Advisors LLC now owns 27,569 shares of the bank’s stock worth $1,302,000 after acquiring an additional 506 shares during the last quarter. AQR Capital Management LLC grew its holdings in Zions Bancorporation, National Association by 75.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after acquiring an additional 433,513 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Institutional investors and hedge funds 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.