Zions Bancorporation, N.A. (NASDAQ:ZION) Rating Increased to Outperform at Robert W. Baird

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday,Benzinga reports. The brokerage presently has a $65.00 target price on the bank’s stock. Robert W. Baird’s price objective suggests a potential upside of 16.61% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Weiss Ratings raised Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 3rd. Evercore lifted their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Piper Sandler increased their target price on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, January 21st. 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 company from $55.00 to $60.00 in a research report on Wednesday, November 19th. Finally, TD Cowen upped their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.58.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $55.74 on Monday. The firm has a market capitalization of $8.24 billion, a P/E ratio of 9.29 and a beta of 0.83. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18. The stock has a 50 day moving average price of $60.25 and a two-hundred day moving average price of $57.01. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 0.86.

Insiders Place Their Bets

In related news, EVP Steven Dan Stephens sold 15,476 shares of Zions Bancorporation, N.A. 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 completion of the sale, the executive vice president owned 41,127 shares of the company’s stock, valued at approximately $2,710,269.30. This trade represents a 27.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 2,089 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $62.48, for a total transaction of $130,520.72. Following the sale, the executive vice president directly owned 22,733 shares in the company, valued at approximately $1,420,357.84. This trade represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 55,581 shares of company stock valued at $3,498,774. Company insiders own 2.22% of the company’s stock.

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

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at approximately $105,700,000. Balyasny Asset Management L.P. boosted its holdings in Zions Bancorporation, N.A. by 1,270.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock worth $67,145,000 after buying an additional 1,063,303 shares during the period. AQR Capital Management LLC grew its stake in Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after buying an additional 711,218 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at $32,008,000. Finally, FIL Ltd raised its holdings in Zions Bancorporation, N.A. by 117.6% during the 4th quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock valued at $65,160,000 after acquiring an additional 601,610 shares during the period. 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.