Zions Bancorporation, National Association (NASDAQ:ZION) Given New $61.00 Price Target at Barclays

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target boosted by Barclays from $59.00 to $61.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. Barclays‘s price target points to a potential upside of 3.34% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Compass Point lifted their price target on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley boosted their target price on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Evercore ISI boosted their price objective on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their price objective on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus target price of $59.25.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $59.03 on Wednesday. The stock has a market cap of $8.72 billion, a PE ratio of 13.45, a P/E/G ratio of 3.11 and a beta of 1.12. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $57.25 and its two-hundred day simple moving average is $51.88. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $787,704.90 billion. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. As a group, analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the sale, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the transaction, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,881 shares of company stock worth $1,108,184. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of large investors have recently modified their holdings of the business. Hsbc Holdings PLC grew its stake in Zions Bancorporation, National Association by 1.2% during the 2nd quarter. Hsbc Holdings PLC now owns 30,247 shares of the bank’s stock valued at $1,312,000 after acquiring an additional 363 shares in the last quarter. Sei Investments Co. raised its stake in Zions Bancorporation, National Association by 1.9% during the second quarter. Sei Investments Co. now owns 74,861 shares of the bank’s stock worth $3,246,000 after purchasing an additional 1,394 shares during the period. Ensign Peak Advisors Inc grew its position in Zions Bancorporation, National Association by 7.5% in the second quarter. Ensign Peak Advisors Inc now owns 46,479 shares of the bank’s stock worth $2,016,000 after acquiring an additional 3,240 shares during the period. Alpha DNA Investment Management LLC acquired a new stake in Zions Bancorporation, National Association during the second quarter worth $529,000. Finally, Abich Financial Wealth Management LLC raised its position in Zions Bancorporation, National Association by 26.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.