Zions Bancorporation, N.A. (NASDAQ:ZION) Raised to Overweight at Morgan Stanley

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a $75.00 price objective on the bank’s stock, up from their prior price objective of $70.00. Morgan Stanley’s price target suggests a potential upside of 30.94% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and raised their price target for the stock from $55.00 to $60.00 in a research report on Wednesday, November 19th. Piper Sandler raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. Royal Bank Of Canada lifted their price target on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 21st. Citigroup raised their price objective on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.58.

Zions Bancorporation, N.A. Stock Down 7.1%

ZION stock opened at $57.28 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 9.55 and a beta of 0.83. The business’s fifty day moving average price is $60.47 and its two-hundred day moving average price is $56.86. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $66.18.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, CEO Harris H. Simmons acquired 4,500 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, February 24th. The shares were acquired at an average cost of $59.03 per share, with a total value of $265,635.00. Following the completion of the purchase, the chief executive officer directly owned 1,317,493 shares of the company’s stock, valued at $77,771,611.79. This represents a 0.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven Dan Stephens sold 15,476 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $65.90, for a total value of $1,019,868.40. Following the transaction, the executive vice president directly owned 41,127 shares of the company’s stock, valued at approximately $2,710,269.30. The trade was a 27.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 55,581 shares of company stock worth $3,498,774. 1.77% of the stock is owned by insiders.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Traub Capital Management LLC acquired a new position in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $31,000. Torren Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth $32,000. Leonteq Securities AG acquired a new position in shares of Zions Bancorporation, N.A. during the fourth quarter worth $32,000. Assetmark Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 75.3% in the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after acquiring an additional 289 shares during the last quarter. Finally, Community Bank N.A. bought a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at $36,000. 76.84% of the stock is 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.