Zions Bancorporation, National Association (NASDAQ:ZION) Upgraded to Buy at The Goldman Sachs Group

Zions Bancorporation, National Association (NASDAQ:ZION) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $71.00 price target on the bank’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 29.04% from the stock’s current price.

ZION has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price target on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Evercore ISI boosted their price target 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. Keefe, Bruyette & Woods increased their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Wedbush raised their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note 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 assigned a buy rating to the company’s stock. According to MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and an average target price of $57.75.

Zions Bancorporation, National Association Stock Up 0.2 %

ZION stock opened at $55.02 on Tuesday. 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 50 day simple moving average is $57.00 and its 200-day simple moving average is $50.82. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The firm has a market capitalization of $8.13 billion, a PE ratio of 12.53, a P/E/G ratio of 5.10 and a beta of 1.12.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZION. CVA Family Office LLC lifted its holdings in Zions Bancorporation, National Association by 0.9% in the 3rd quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock worth $1,191,000 after buying an additional 217 shares in the last quarter. Abich Financial Wealth Management LLC increased its position 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 worth $61,000 after acquiring an additional 296 shares during the last quarter. Centaurus Financial Inc. lifted its stake in shares of Zions Bancorporation, National Association by 8.3% in the second quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock worth $170,000 after acquiring an additional 299 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Zions Bancorporation, National Association by 0.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock valued at $1,947,000 after purchasing an additional 348 shares during the last quarter. Finally, 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 purchasing an additional 363 shares in the last quarter. 76.84% of the stock is currently 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.