Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $55.00 at Wedbush

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target raised by Wedbush from $52.00 to $55.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Wedbush’s target price indicates a potential upside of 5.75% from the company’s current price.

ZION has been the subject of several other reports. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their target price on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group dropped their price objective on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company boosted their price objective on Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $50.72.

Zions Bancorporation, National Association Price Performance

Shares of ZION traded up $2.57 during trading hours on Tuesday, reaching $52.01. The stock had a trading volume of 1,296,352 shares, compared to its average volume of 2,110,993. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32. The stock has a market capitalization of $7.68 billion, a PE ratio of 13.07, a PEG ratio of 1.91 and a beta of 1.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. The company’s 50-day moving average is $47.51 and its two-hundred day moving average is $45.20.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. During the same period last year, the company earned $1.13 EPS. Research analysts expect that Zions Bancorporation, National Association will post 4.53 EPS for the current year.

Insider Activity

In other news, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the transaction, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, President Scott J. Mclean sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the transaction, the president now directly owns 74,286 shares of the company’s stock, valued at $3,850,243.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the completion of the transaction, the vice president now directly owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,073 shares of company stock valued at $3,476,298 over the last three months. Corporate insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several institutional investors have recently bought and sold shares of ZION. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $7,163,000 after purchasing an additional 4,993,164 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 valued at $271,003,000 after purchasing an additional 929,251 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Zions Bancorporation, National Association by 165.0% in the third quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock valued at $42,761,000 after purchasing an additional 563,889 shares during the last quarter. AQR Capital Management LLC lifted its stake in 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 valued at $43,294,000 after purchasing an additional 433,513 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Zions Bancorporation, National Association by 197.5% during the first quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after acquiring an additional 376,549 shares in 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.