Zions Bancorporation, N.A. (NASDAQ:ZION) Upgraded by Morgan Stanley to “Overweight” Rating

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $75.00 target price on the bank’s stock, up from their prior target price of $70.00. Morgan Stanley’s price objective would indicate a potential upside of 30.94% from the stock’s previous close.

ZION has been the topic of several other research reports. Citigroup boosted their target price on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Royal Bank Of Canada lifted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a report on Wednesday, January 21st. Evercore increased their target price on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Stephens raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.58.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $57.28 on Monday. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 9.55 and a beta of 0.83. The business’s 50-day moving average price is $60.47 and its two-hundred day moving average price is $56.86. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $66.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, CEO Harris H. Simmons acquired 4,500 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $59.03 per share, with a total value of $265,635.00. Following the completion of the transaction, the chief executive officer directly owned 1,317,493 shares in the company, valued at approximately $77,771,611.79. This represents a 0.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Derek Steward sold 769 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $60.46, for a total value of $46,493.74. Following the transaction, the executive vice president owned 14,307 shares of the company’s stock, valued at $865,001.22. This represents a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,581 shares of company stock worth $3,498,774 in the last three months. Insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $32,000. Leonteq Securities AG acquired a new position in Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Traub Capital Management LLC bought a new position in Zions Bancorporation, N.A. in the 2nd quarter valued at about $31,000. Atlas Capital Advisors Inc. bought a new position in Zions Bancorporation, N.A. in the 4th quarter valued at about $36,000. Finally, Community Bank N.A. acquired a new stake in Zions Bancorporation, N.A. during the third quarter worth approximately $36,000. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.