StockNews.com Upgrades Zions Bancorporation, National Association (NASDAQ:ZION) to “Hold”

Zions Bancorporation, National Association (NASDAQ:ZION) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial raised their price objective on shares of Zions Bancorporation, National Association from $45.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Wedbush boosted their target price on Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They set a “hold” rating and a $47.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on Zions Bancorporation, National Association from $39.00 to $42.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $48.06.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $51.67 on Tuesday. The stock has a market cap of $7.63 billion, a P/E ratio of 12.98, a PEG ratio of 5.09 and a beta of 1.11. Zions Bancorporation, National Association has a one year low of $28.90 and a one year high of $53.32. The company has a fifty day moving average price of $44.66 and a 200 day moving average price of $42.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.18. The firm had revenue of $776.00 million during 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 13.85%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. Analysts anticipate that Zions Bancorporation, National Association will post 4.53 earnings per share for the current year.

Insider Activity

In other news, President Scott J. Mclean sold 60,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares of the company’s stock, valued at approximately $3,850,243.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction 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 approximately $968,866.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Scott J. Mclean sold 60,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares in the company, valued at approximately $3,850,243.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,369 shares of company stock valued at $3,795,490. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZION. Raymond James & Associates increased its position in Zions Bancorporation, National Association by 38.9% during the 4th quarter. Raymond James & Associates now owns 117,063 shares of the bank’s stock worth $5,136,000 after buying an additional 32,778 shares during the period. Global Retirement Partners LLC increased its position in Zions Bancorporation, National Association by 10.8% during the 4th quarter. Global Retirement Partners LLC now owns 5,857 shares of the bank’s stock worth $241,000 after buying an additional 571 shares during the period. Fifth Third Bancorp increased its position in Zions Bancorporation, National Association by 2.0% during the 4th quarter. Fifth Third Bancorp now owns 23,523 shares of the bank’s stock worth $1,032,000 after buying an additional 462 shares during the period. Oak Thistle LLC bought a new position in Zions Bancorporation, National Association during the 4th quarter worth $804,000. Finally, Drive Wealth Management LLC acquired a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $250,000. Institutional investors 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.