Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Raised to $54.00 at The Goldman Sachs Group

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price lifted by equities researchers at The Goldman Sachs Group from $47.00 to $54.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s target price points to a potential upside of 5.92% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Truist Financial reiterated a “hold” rating and issued a $46.00 price target on shares of Zions Bancorporation, National Association in a research note on Monday, April 1st. Evercore ISI upped their target price on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Stephens upped their target price on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Zions Bancorporation, National Association from $49.50 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.06.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $50.98 on Tuesday. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 5.04 and a beta of 1.11. The firm’s 50-day moving average is $43.89 and its 200 day moving average is $42.35. Zions Bancorporation, National Association has a 1 year low of $28.90 and a 1 year high of $53.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 14.13%. Zions Bancorporation, National Association’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Rebecca K. Robinson sold 5,291 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total value of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the sale, the chief executive officer now directly owns 22,181 shares of the company’s stock, valued at $968,866.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,296 shares of company stock valued at $319,192. 2.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Zions Bancorporation, National Association by 55.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,262 shares of the bank’s stock valued at $2,644,000 after acquiring an additional 21,551 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Zions Bancorporation, National Association by 119.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after acquiring an additional 1,259,571 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Zions Bancorporation, National Association by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,746,184 shares of the bank’s stock valued at $164,345,000 after acquiring an additional 27,934 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Zions Bancorporation, National Association during the 4th quarter valued at approximately $1,268,000. Finally, Retirement Systems of Alabama boosted its position in shares of Zions Bancorporation, National Association by 469.8% during the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after acquiring an additional 153,387 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.