Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $75.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $67.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 7.12% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler dropped their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Stephens started coverage on shares of Zions Bancorporation, N.A. in a report on Monday, June 15th. They set an “overweight” rating and a $79.00 target price for the company. Brean Capital assumed coverage on shares of Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Barclays lifted their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.35.

Zions Bancorporation, N.A. Trading Up 1.2%

Shares of ZION traded up $0.82 during trading hours on Wednesday, hitting $70.01. 111,422 shares of the stock traded hands, compared to its average volume of 1,721,840. The business has a fifty day moving average of $63.68 and a 200-day moving average of $60.80. The firm has a market capitalization of $10.30 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 2.23 and a beta of 0.81. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $69.84. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period last year, the company earned $1.13 earnings per share. Analysts expect that Zions Bancorporation, N.A. will post 6.47 EPS for the current year.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock repurchase plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp acquired a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $8,591,000. Basswood Capital Management L.L.C. grew its stake in shares of Zions Bancorporation, N.A. by 266.4% in the fourth quarter. Basswood Capital Management L.L.C. now owns 404,520 shares of the bank’s stock valued at $23,681,000 after buying an additional 294,121 shares in the last quarter. Burney Co. acquired a new position in Zions Bancorporation, N.A. during the fourth quarter worth $4,762,000. LSV Asset Management increased its holdings in Zions Bancorporation, N.A. by 1.3% during the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after buying an additional 48,346 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new stake in Zions Bancorporation, N.A. during the fourth quarter worth $3,353,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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.