Zions Bancorporation, N.A. (NASDAQ:ZION) Upgraded by Robert W. Baird to Outperform Rating

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $65.00 price objective on the bank’s stock. Robert W. Baird’s target price indicates a potential upside of 16.61% from the stock’s current price.

ZION has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 3rd. Barclays lifted their price target on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Evercore increased their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Finally, Morgan Stanley upgraded Zions Bancorporation, N.A. from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $75.00 in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.58.

Zions Bancorporation, N.A. Trading Down 3.0%

Shares of NASDAQ:ZION opened at $55.74 on Monday. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $66.18. The business has a 50 day moving average of $60.25 and a 200-day moving average of $57.01. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.64. The stock has a market cap of $8.24 billion, a PE ratio of 9.29 and a beta of 0.83.

Insider Buying and Selling

In related news, VP Eric Ellingsen sold 1,519 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $61.27, for a total value of $93,069.13. Following the completion of the transaction, the vice president owned 40,361 shares in the company, valued at $2,472,918.47. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 6,558 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $64.80, for a total transaction of $424,958.40. Following the sale, the executive vice president owned 18,761 shares in the company, valued at approximately $1,215,712.80. This represents a 25.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,581 shares of company stock valued at $3,498,774 over the last three months. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its stake in Zions Bancorporation, N.A. by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock worth $115,483,000 after acquiring an additional 122,815 shares in the last quarter. LSV Asset Management increased its holdings in shares of Zions Bancorporation, N.A. by 4.5% during the second quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock valued at $205,689,000 after acquiring an additional 169,085 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Zions Bancorporation, N.A. during the third quarter valued at approximately $934,000. Bailard Inc. acquired a new position in shares of Zions Bancorporation, N.A. during the third quarter worth approximately $487,000. Finally, Gateway Investment Advisers LLC lifted its holdings in shares of Zions Bancorporation, N.A. by 156.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock worth $4,857,000 after purchasing an additional 52,381 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

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.