Zions Bancorporation, National Association (NASDAQ:ZION) Given New $64.00 Price Target at Morgan Stanley

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price reduced by investment analysts at Morgan Stanley from $71.00 to $64.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s target price indicates a potential upside of 35.22% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Stephens reaffirmed an “equal weight” rating and set a $64.00 target price on shares of Zions Bancorporation, National Association in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods raised their price target on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their price objective on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Royal Bank of Canada boosted their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.18.

Zions Bancorporation, National Association Trading Down 1.3 %

ZION stock traded down $0.61 during midday trading on Thursday, hitting $47.33. The stock had a trading volume of 382,806 shares, compared to its average volume of 1,376,560. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market cap of $7.00 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The business has a fifty day moving average price of $55.13 and a two-hundred day moving average price of $53.57. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The company had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts predict that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association declared that its board has approved a share repurchase plan on Monday, February 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 10,000 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares in the company, valued at $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,713 shares of company stock worth $1,839,686. 2.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Several hedge funds have recently added to or reduced their stakes in ZION. EverSource Wealth Advisors LLC boosted its stake in Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after buying an additional 183 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Zions Bancorporation, National Association by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank’s stock valued at $245,000 after purchasing an additional 224 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Zions Bancorporation, National Association by 1.5% during the 4th quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock valued at $937,000 after purchasing an additional 249 shares during the last quarter. Jackson Creek Investment Advisors LLC raised its position in Zions Bancorporation, National Association by 3.3% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank’s stock worth $490,000 after purchasing an additional 285 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Zions Bancorporation, National Association by 4.7% during the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank’s stock valued at $364,000 after buying an additional 303 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Company Profile

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.