Robert W. Baird Downgrades Zions Bancorporation, N.A. (NASDAQ:ZION) to Neutral

Zions Bancorporation, N.A. (NASDAQ:ZION) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Monday, MarketBeat reports. They presently have a $65.00 price objective on the bank’s stock. Robert W. Baird’s target price would suggest a potential downside of 0.44% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on ZION. JPMorgan Chase & Co. increased their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. Piper Sandler upped their price target on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Barclays raised their price objective on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 3rd. Finally, UBS Group cut their target price on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and an average price target of $63.32.

Zions Bancorporation, N.A. Stock Up 1.8%

Shares of NASDAQ ZION opened at $65.29 on Monday. The company has a market capitalization of $9.64 billion, a P/E ratio of 10.88 and a beta of 0.85. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $66.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day moving average price is $59.27 and its 200-day moving average price is $56.01.

Insiders Place Their Bets

In other news, President Scott J. Mclean sold 28,980 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $61.15, for a total transaction of $1,772,127.00. Following the completion of the sale, the president directly owned 82,250 shares of the company’s stock, valued at $5,029,587.50. This trade represents a 26.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Derek Steward sold 769 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $60.46, for a total value of $46,493.74. Following the transaction, the executive vice president owned 14,307 shares of the company’s stock, valued at $865,001.22. The trade was a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,268 shares of company stock valued at $1,911,690 in the last 90 days. 2.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several hedge funds have recently bought and sold shares of ZION. Royal Bank of Canada grew its stake in Zions Bancorporation, N.A. by 76.3% in the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after buying an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after acquiring an additional 6,393 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Zions Bancorporation, N.A. by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after acquiring an additional 2,659 shares in the last quarter. Focus Partners Wealth increased its stake in Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 10,283 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in Zions Bancorporation, N.A. by 7.3% during the second quarter. KLP Kapitalforvaltning AS now owns 31,000 shares of the bank’s stock valued at $1,610,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.