Zions Bancorporation, National Association (NASDAQ:ZION) Given New $57.00 Price Target at Royal Bank of Canada

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target lifted by equities research analysts at Royal Bank of Canada from $55.00 to $57.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 11.76% from the stock’s previous close.

Several other brokerages have also commented on ZION. Robert W. Baird raised their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd. Compass Point lifted their target price on Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company cut their target price on Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. Finally, Evercore ISI cut their target price on Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.83.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $51.00 on Tuesday. The firm has a market cap of $7.53 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.91 and a beta of 1.09. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32. The stock’s fifty day moving average price is $47.51 and its 200-day moving average price is $45.20.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. During the same quarter last year, the firm posted $1.13 earnings per share. On average, equities research analysts expect that Zions Bancorporation, National Association will post 4.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now owns 17,857 shares of the company’s stock, valued at $925,528.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction dated 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 completion of the sale, the president now owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total value of $267,235.48. Following the sale, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,073 shares of company stock valued at $3,476,298 over the last quarter. 2.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Comerica Bank lifted its holdings in Zions Bancorporation, National Association by 331.1% in the first quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after acquiring an additional 91,289 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Zions Bancorporation, National Association in the first quarter valued at approximately $1,959,000. Retirement Systems of Alabama lifted its holdings in Zions Bancorporation, National Association by 469.8% in the first quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after acquiring an additional 153,387 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Zions Bancorporation, National Association by 345.2% in the first quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock valued at $3,831,000 after acquiring an additional 68,445 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Zions Bancorporation, National Association by 71.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock valued at $5,136,000 after acquiring an additional 49,213 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

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.