Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $49.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective decreased by research analysts at Jefferies Financial Group from $51.00 to $49.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 10.99% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Truist Financial raised their target price on Zions Bancorporation, National Association from $45.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Compass Point raised their price objective on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Robert W. Baird upped their target price on shares of Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Royal Bank of Canada lifted their price target on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.83.

Zions Bancorporation, National Association Trading Down 3.6 %

Shares of NASDAQ:ZION traded down $1.63 during mid-day trading on Wednesday, reaching $44.15. 416,857 shares of the company’s stock were exchanged, compared to its average volume of 2,228,393. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. Zions Bancorporation, National Association has a twelve month low of $28.90 and a twelve month high of $53.32. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 2.72 and a beta of 1.10. The business’s fifty day moving average price is $47.64 and its 200-day moving average price is $43.87.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $761.61 million. During the same quarter in the previous year, the company posted $1.11 EPS. The business’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Zions Bancorporation, National Association will post 4.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction dated 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 sale, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction dated 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 sale, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the sale, the vice president now directly owns 17,857 shares in the company, valued at $925,528.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,073 shares of company stock valued at $3,476,298. 2.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently modified their holdings of ZION. Price T Rowe Associates Inc. MD lifted its holdings in shares of Zions Bancorporation, National Association by 103.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock worth $7,163,000 after buying an additional 4,993,164 shares in the last quarter. Norges Bank purchased a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth about $67,694,000. Dimensional Fund Advisors LP increased its position in shares of Zions Bancorporation, National Association by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after purchasing an additional 929,251 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Zions Bancorporation, National Association by 75.0% in the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after purchasing an additional 433,513 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Zions Bancorporation, National Association by 197.5% in the first quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after purchasing an additional 376,549 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Company Profile

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.