Keefe, Bruyette & Woods Boosts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $56.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target hoisted by equities researchers at Keefe, Bruyette & Woods from $53.00 to $56.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.11% from the stock’s previous close.

ZION has been the subject of several other reports. Evercore ISI reduced their price objective on Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. The Goldman Sachs Group upped their price target on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Argus downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their price objective on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Wolfe Research upgraded shares of Zions Bancorporation, National Association to a “hold” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.33.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION traded up $2.36 on Tuesday, hitting $51.80. The stock had a trading volume of 803,968 shares, compared to its average volume of 2,108,579. Zions Bancorporation, National Association has a 52-week low of $28.90 and a 52-week high of $53.32. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.11. The business’s 50-day simple moving average is $47.51 and its two-hundred day simple moving average is $45.20.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. During the same quarter last year, the firm posted $1.13 earnings per share. As a group, research analysts predict that Zions Bancorporation, National Association will post 4.53 earnings per share for the current year.

Insider Activity

In other news, President Scott J. Mclean sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the transaction, the president now owns 74,286 shares of the company’s stock, valued at approximately $3,850,243.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the transaction, the president now owns 74,286 shares in the company, valued at $3,850,243.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now owns 17,857 shares of the company’s stock, valued at $925,528.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock valued at $3,476,298 in the last ninety days. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently modified their holdings of ZION. ORG Wealth Partners LLC purchased a new stake in Zions Bancorporation, National Association in the third quarter worth $28,000. Fidelis Capital Partners LLC bought a new position in shares of Zions Bancorporation, National Association in the first quarter worth about $27,000. ORG Partners LLC bought a new position in shares of Zions Bancorporation, National Association in the second quarter worth about $33,000. International Assets Investment Management LLC purchased a new position in Zions Bancorporation, National Association in the 2nd quarter worth about $34,000. Finally, Rothschild Investment LLC bought a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at about $39,000. 76.84% of the stock is 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.