Zions Bancorporation, National Association (NASDAQ:ZION) PT Raised to $42.00 at Morgan Stanley

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective boosted by Morgan Stanley from $39.00 to $42.00 in a report released on Tuesday, Benzinga reports. They currently have an underweight rating on the bank’s stock.

ZION has been the subject of several other research reports. Keefe, Bruyette & Woods boosted their price objective on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the stock a market perform rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on Zions Bancorporation, National Association in a report on Wednesday, April 10th. They issued a hold rating and a $47.00 price target for the company. Royal Bank of Canada upped their price target on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the company a sector perform rating in a report on Tuesday. StockNews.com raised Zions Bancorporation, National Association from a sell rating to a hold rating in a report on Wednesday, July 17th. Finally, Wedbush upped their price target on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a neutral rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of Hold and an average price target of $48.06.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION opened at $52.29 on Tuesday. Zions Bancorporation, National Association has a twelve month low of $28.90 and a twelve month high of $53.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.78. The stock has a market capitalization of $7.72 billion, a PE ratio of 13.14, a P/E/G ratio of 5.11 and a beta of 1.11. The stock has a 50-day simple moving average of $44.18 and a 200 day simple moving average of $42.47.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.18. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. During the same quarter in the previous year, the firm earned $1.11 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Zions Bancorporation, National Association will post 4.43 EPS for the current 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 stock was sold at an average price of $43.66, for a total transaction of $231,005.06. Following the sale, the executive vice president now directly owns 22,238 shares in the company, valued at approximately $970,911.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Rebecca K. Robinson sold 5,291 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.66, for a total transaction of $231,005.06. Following the sale, the executive vice president now directly owns 22,238 shares in the company, valued at approximately $970,911.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total value of $65,520.00. Following the sale, the chief executive officer now owns 22,181 shares in the company, valued at $968,866.08. The disclosure for this sale can be found here. Insiders have sold a total of 7,296 shares of company stock worth $319,192 in the last three months. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Zions Bancorporation, National Association by 55.7% in 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 buying an additional 21,551 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Zions Bancorporation, National Association by 119.8% in 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 buying an additional 1,259,571 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Zions Bancorporation, National Association by 0.8% in 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 buying an additional 27,934 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at $1,268,000. Finally, Retirement Systems of Alabama increased its stake in shares of Zions Bancorporation, National Association by 469.8% in the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after buying an additional 153,387 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

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.