Zions Bancorporation, National Association (NASDAQ:ZION) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective lifted by research analysts at Royal Bank of Canada from $61.00 to $63.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price suggests a potential upside of 8.19% from the company’s current price.

Several other equities analysts have also issued reports on ZION. Barclays boosted their price target on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday. Robert W. Baird increased their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Compass Point lifted their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stephens increased their target price on Zions Bancorporation, National Association from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Truist Financial lifted their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.71.

Zions Bancorporation, National Association Trading Down 1.4 %

NASDAQ ZION traded down $0.80 on Wednesday, reaching $58.23. The company had a trading volume of 1,246,115 shares, compared to its average volume of 1,265,542. Zions Bancorporation, National Association has a 52 week low of $37.76 and a 52 week high of $63.22. The stock’s 50 day moving average is $57.25 and its 200-day moving average is $51.88. 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 stock has a market cap of $8.60 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 3.11 and a beta of 1.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results 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. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $820.00 million for the quarter, compared to the consensus estimate of $787,704.90 billion. During the same period last year, the company posted $0.78 EPS. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at $2,182,817.52. The trade was 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 Paul E. Burdiss sold 9,506 shares of the company’s stock in a transaction 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 owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their ownership of the stock. 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 quarter. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its holdings in Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after purchasing an additional 896,889 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Zions Bancorporation, National Association by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock valued at $221,367,000 after purchasing an additional 140,084 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Zions Bancorporation, National Association by 25.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after buying an additional 538,049 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock worth $124,592,000 after purchasing an additional 30,030 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after acquiring an additional 433,513 shares during the last quarter. Institutional investors and hedge funds 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.