Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $56.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target cut by analysts at Evercore ISI from $58.00 to $56.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Evercore ISI’s price objective suggests a potential upside of 21.24% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Stephens upped their price objective on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Wedbush upped their price objective on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on shares of Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wolfe Research upgraded shares of Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group decreased their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $49.17.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $46.19 on Wednesday. Zions Bancorporation, National Association has a 1 year low of $28.90 and a 1 year high of $53.32. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.81 and a beta of 1.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a fifty day moving average of $47.42 and a 200-day moving average of $44.57.

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. The business had revenue of $776.00 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.11 earnings per share. As a group, equities analysts anticipate that Zions Bancorporation, National Association will post 4.51 earnings per share for the current year.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the transaction, the executive vice president now owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Zions Bancorporation, National Association 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 transaction of $3,109,800.00. Following the transaction, the president now owns 74,286 shares in the company, valued at $3,850,243.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Terry Alan Shirey sold 1,917 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total value of $99,262.26. Following the transaction, the executive vice president now owns 24,640 shares in the company, valued at approximately $1,275,859.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,073 shares of company stock valued at $3,476,298. 2.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Zions Bancorporation, National Association by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after purchasing an additional 929,251 shares during the last quarter. Fiduciary Management Inc. WI grew its stake in shares of Zions Bancorporation, National Association by 4.0% in the fourth quarter. Fiduciary Management Inc. WI now owns 2,247,805 shares of the bank’s stock worth $98,611,000 after acquiring an additional 86,165 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Zions Bancorporation, National Association by 1.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,146,411 shares of the bank’s stock worth $93,089,000 after acquiring an additional 22,123 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Zions Bancorporation, National Association by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,724,325 shares of the bank’s stock worth $74,784,000 after acquiring an additional 5,609 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in shares of Zions Bancorporation, National Association by 9.7% in the second quarter. Wedge Capital Management L L P NC now owns 1,019,182 shares of the bank’s stock worth $44,202,000 after acquiring an additional 90,234 shares during the last quarter. Institutional investors and hedge funds 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.