JPMorgan Chase & Co. Cuts Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $65.00 to $62.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.30% from the company’s previous close.

ZION has been the topic of a number of other reports. Stephens raised their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Truist Financial lifted their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group cut their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. One 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. According to MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus target price of $58.25.

Zions Bancorporation, National Association Trading Up 0.3 %

Shares of ZION stock traded up $0.19 during trading hours on Tuesday, hitting $55.21. The company had a trading volume of 741,659 shares, compared to its average volume of 863,912. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average is $57.00 and its 200 day moving average is $50.82. The stock has a market capitalization of $8.16 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 5.10 and a beta of 1.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter in the previous year, the business posted $1.13 earnings per share. Research analysts expect that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Insider Activity at Zions Bancorporation, National Association

In related news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the sale, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer Anne Smith sold 3,605 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $209,306.30. Following the completion of the sale, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,434,894.84. The trade was a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,881 shares of company stock worth $1,108,184 in the last three months. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of ZION. ORG Wealth Partners LLC acquired a new position in shares of Zions Bancorporation, National Association in the third quarter worth $28,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Zions Bancorporation, National Association by 68.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock worth $56,000 after buying an additional 526 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after buying an additional 296 shares during the period. Acadian Asset Management LLC acquired a new stake in Zions Bancorporation, National Association during the second quarter worth approximately $101,000. Finally, Venturi Wealth Management LLC raised its holdings in Zions Bancorporation, National Association by 209.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock valued at $117,000 after acquiring an additional 1,671 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

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.