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

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price boosted by equities research analysts at Morgan Stanley from $39.00 to $42.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Morgan Stanley’s target price indicates a potential downside of 20.20% from the company’s previous close.

ZION has been the subject of a number of other reports. Royal Bank of Canada raised their price objective on shares of Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a report on Tuesday. Robert W. Baird raised their price objective on shares of Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group reduced their price objective on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Zions Bancorporation, National Association in a report on Wednesday, April 10th. They set a “hold” rating and a $47.00 price target for the company. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.06.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock traded up $3.15 during mid-day trading on Tuesday, reaching $52.63. The company had a trading volume of 1,915,727 shares, compared to its average volume of 2,372,993. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. Zions Bancorporation, National Association has a 52 week low of $28.90 and a 52 week high of $53.32. The company has a 50 day moving average of $43.62 and a 200-day moving average of $42.23. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 4.99 and a beta of 1.11.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. On average, sell-side analysts expect that Zions Bancorporation, National Association will post 4.36 EPS for the current fiscal year.

Insider Transactions at Zions Bancorporation, National Association

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. bought a new position in Zions Bancorporation, National Association in the fourth quarter valued at approximately $224,000. HB Wealth Management LLC increased its holdings in Zions Bancorporation, National Association by 21.0% during the fourth quarter. HB Wealth Management LLC now owns 8,964 shares of the bank’s stock worth $393,000 after buying an additional 1,555 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Zions Bancorporation, National Association by 38.9% in the fourth quarter. Raymond James & Associates now owns 117,063 shares of the bank’s stock valued at $5,136,000 after purchasing an additional 32,778 shares during the last quarter. Sendero Wealth Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 11.0% in the fourth quarter. Sendero Wealth Management LLC now owns 11,803 shares of the bank’s stock valued at $518,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Traynor Capital Management Inc. acquired a new position in shares of Zions Bancorporation, National Association in the fourth quarter valued at $204,000. 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.