Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $64.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target upped by Citigroup from $62.00 to $64.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Citigroup’s price target would indicate a potential upside of 8.33% from the stock’s current price.

A number of other brokerages also recently issued reports on ZION. Stephens upped their price objective on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings downgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. TD Cowen lifted their price target on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday. Jefferies Financial Group raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and raised their target price for the stock from $55.00 to $60.00 in a research report on Wednesday, November 19th. Finally, Bank of America raised Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and upped their price target for the company from $59.00 to $62.00 in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.16.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION traded down $1.95 during midday trading on Friday, reaching $59.08. The company’s stock had a trading volume of 1,399,769 shares, compared to its average volume of 1,743,155. The stock has a market capitalization of $8.72 billion, a P/E ratio of 9.84, a PEG ratio of 1.32 and a beta of 0.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a 50 day moving average price of $57.18 and a 200-day moving average price of $55.63. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $62.26.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 20th. The bank reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.29. The company had revenue of $872.00 million during the quarter, compared to the consensus estimate of $842.68 million. Zions Bancorporation, N.A. had a return on equity of 13.70% and a net margin of 18.19%.During the same period last year, the business posted $1.37 earnings per share. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the transaction, the executive vice president owned 27,133 shares of the company’s stock, valued at approximately $1,441,033.63. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Zions Bancorporation, N.A. by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock worth $1,002,875,000 after acquiring an additional 582,392 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Zions Bancorporation, N.A. by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,343,076 shares of the bank’s stock worth $415,474,000 after buying an additional 30,552 shares during the period. LSV Asset Management lifted its holdings in Zions Bancorporation, N.A. by 4.5% in the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock worth $205,689,000 after buying an additional 169,085 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Zions Bancorporation, N.A. by 14.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock worth $183,546,000 after buying an additional 409,065 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after acquiring an additional 711,218 shares during the period. 76.84% of the stock is currently owned by institutional investors.

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.