JPMorgan Chase & Co. Cuts Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target trimmed by JPMorgan Chase & Co. from $68.00 to $62.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other research analysts have also recently commented on ZION. Royal Bank Of Canada upped 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. Piper Sandler boosted their price target on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Barclays raised their price objective on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Stephens lifted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings cut Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 12th. One 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.79.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $58.13 on Wednesday. The firm has a market capitalization of $8.55 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.47 and a beta of 0.81. The business has a 50 day simple moving average of $58.64 and a 200 day simple moving average of $56.79. 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 12-month low of $39.32 and a 12-month high of $66.18.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 12th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 30.00%.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, VP Eric Ellingsen sold 1,519 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $61.27, for a total value of $93,069.13. Following the completion of the sale, the vice president owned 40,361 shares of the company’s stock, valued at $2,472,918.47. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 2,089 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $62.48, for a total value of $130,520.72. Following the sale, the executive vice president directly owned 22,733 shares of the company’s stock, valued at $1,420,357.84. The trade was a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 55,581 shares of company stock valued at $3,498,774. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Zions Bancorporation, N.A. by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,420,688 shares of the bank’s stock valued at $434,407,000 after purchasing an additional 77,612 shares during the period. LSV Asset Management lifted its holdings in shares of 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. Vaughan Nelson Investment Management L.P. raised its stake in Zions Bancorporation, N.A. by 14.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock valued at $183,546,000 after purchasing an additional 409,065 shares during the last quarter. Morgan Stanley raised its position in shares of Zions Bancorporation, N.A. by 10.8% during the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after buying an additional 306,717 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after acquiring an additional 711,218 shares during the period. 76.84% of the stock is currently owned by 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.