Piper Sandler Cuts Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price decreased by equities researchers at Piper Sandler from $65.00 to $62.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 8.91% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Barclays raised their price target on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Royal Bank Of Canada lifted 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 research report on Wednesday, January 21st. Weiss Ratings lowered shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 12th. JPMorgan Chase & Co. lowered their price target on Zions Bancorporation, N.A. from $68.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus price target of $62.79.

Zions Bancorporation, N.A. Stock Down 2.3%

ZION stock opened at $56.93 on Thursday. The stock has a market capitalization of $8.37 billion, a P/E ratio of 9.49 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $66.18. The business has a fifty day moving average price of $58.71 and a 200-day moving average price of $56.77.

Insider Transactions at Zions Bancorporation, N.A.

In related news, CEO Harris H. Simmons purchased 4,500 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was acquired at an average price of $59.03 per share, with a total value of $265,635.00. Following the completion of the acquisition, the chief executive officer owned 1,317,493 shares of the company’s stock, valued at approximately $77,771,611.79. This trade represents a 0.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 2,089 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $62.48, for a total value of $130,520.72. Following the completion of the sale, the executive vice president owned 22,733 shares of the company’s stock, valued at approximately $1,420,357.84. The trade was a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 55,581 shares of company stock worth $3,498,774 over the last three months. 2.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZION. Norges Bank purchased a new stake in Zions Bancorporation, N.A. in the 4th quarter worth approximately $105,700,000. Balyasny Asset Management L.P. lifted its holdings in Zions Bancorporation, N.A. by 1,270.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock valued at $67,145,000 after purchasing an additional 1,063,303 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Zions Bancorporation, N.A. in the second quarter worth $32,008,000. Finally, FIL Ltd increased its stake in shares of Zions Bancorporation, N.A. by 117.6% in the fourth quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after purchasing an additional 601,610 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

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.