UBS Group Initiates Coverage on Zions Bancorporation, National Association (NASDAQ:ZION)

Investment analysts at UBS Group started coverage on shares of Zions Bancorporation, National Association (NASDAQ:ZION) in a research note issued to investors on Tuesday. The firm set a “neutral” rating on the bank’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group boosted their price target 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. Wedbush upped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley raised their target price on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group reduced their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods upped their price objective on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.88.

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock traded down $1.18 on Tuesday, hitting $56.46. 256,337 shares of the company traded hands, compared to its average volume of 1,972,268. The stock has a market capitalization of $8.34 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22. The business has a 50-day simple moving average of $55.82 and a 200 day simple moving average of $49.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81.

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

Insider Buying and Selling

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the transaction, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the completion of the sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. The trade was a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,881 shares of company stock worth $1,108,184. Insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter worth approximately $28,000. International Assets Investment Management LLC bought a new stake in Zions Bancorporation, National Association in the 2nd quarter worth about $34,000. Rothschild Investment LLC purchased a new stake in shares of Zions Bancorporation, National Association during the 2nd quarter worth approximately $39,000. New Millennium Group LLC bought a new stake in Zions Bancorporation, National Association in the 2nd quarter valued at about $55,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Zions Bancorporation, National Association by 68.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock valued at $56,000 after purchasing an additional 526 shares in the last quarter. 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.