Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $68.00 Price Target at Morgan Stanley

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective decreased by analysts at Morgan Stanley from $75.00 to $68.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Morgan Stanley’s target price would indicate a potential upside of 18.22% from the company’s previous close.

ZION has been the topic of several other research reports. Royal Bank Of Canada raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 21st. Weiss Ratings cut Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 12th. Evercore raised their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Truist Financial lifted their price objective on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Finally, Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.21.

Zions Bancorporation, N.A. Stock Performance

ZION traded up $1.93 during midday trading on Tuesday, hitting $57.52. 1,152,379 shares of the company traded hands, compared to its average volume of 1,889,736. The company’s 50-day moving average is $58.81 and its 200 day moving average is $56.77. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $8.46 billion, a PE ratio of 9.58 and a beta of 0.83. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, CEO Harris H. Simmons acquired 4,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average price of $59.03 per share, with a total value of $265,635.00. Following the completion of the purchase, the chief executive officer directly owned 1,317,493 shares in the company, valued at approximately $77,771,611.79. The trade was a 0.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 6,558 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $64.80, for a total value of $424,958.40. Following the sale, the executive vice president directly owned 18,761 shares in the company, valued at $1,215,712.80. This trade represents a 25.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 55,581 shares of company stock valued at $3,498,774. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZION. Thrivent Financial for Lutherans increased its holdings in Zions Bancorporation, N.A. by 6.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock worth $115,483,000 after purchasing an additional 122,815 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Zions Bancorporation, N.A. during the third quarter valued at $934,000. Bailard Inc. purchased a new position in shares of Zions Bancorporation, N.A. during the third quarter valued at $487,000. Gateway Investment Advisers LLC raised its holdings in shares of Zions Bancorporation, N.A. by 156.5% in the third quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock valued at $4,857,000 after acquiring an additional 52,381 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Zions Bancorporation, N.A. by 39.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,763 shares of the bank’s stock worth $5,079,000 after acquiring an additional 25,292 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle?market firms and high?net?worth clients. Its service portfolio includes deposit accounts, cash?management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.