Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $76.00

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) had its price target raised by equities researchers at Royal Bank Of Canada from $74.00 to $76.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank Of Canada’s target price points to a potential upside of 10.17% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $75.00 price target on shares of Zions Bancorporation, N.A. in a research note on Tuesday. Stephens began coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, June 15th. They set an “overweight” rating and a $79.00 target price on the stock. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Citigroup upped their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company increased their target price on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.53.

Check Out Our Latest Stock Report on ZION

Zions Bancorporation, N.A. Stock Down 4.0%

Shares of Zions Bancorporation, N.A. stock traded down $2.91 on Tuesday, reaching $68.98. 2,014,552 shares of the company were exchanged, compared to its average volume of 1,734,081. The stock’s 50 day moving average price is $65.96 and its 200-day moving average price is $61.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $73.34. The company has a market cap of $10.15 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last issued its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The company had revenue of $878.00 million during the quarter, compared to the consensus estimate of $877.44 million. During the same quarter in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts forecast that Zions Bancorporation, N.A. will post 6.49 EPS for the current year.

Zions Bancorporation, N.A. announced that its board has approved a stock repurchase plan on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were 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 is available through the SEC website. 1.43% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its stake in shares of Zions Bancorporation, N.A. by 17.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank’s stock worth $3,190,000 after acquiring an additional 6,700 shares in the last quarter. Arista Wealth Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at $230,000. Everhart Financial Group Inc. purchased a new position in Zions Bancorporation, N.A. in the 2nd quarter worth about $224,000. Beacon Investment Advisory Services Inc. raised its holdings in Zions Bancorporation, N.A. by 12.6% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank’s stock worth $892,000 after buying an additional 1,448 shares during the period. Finally, Elevation Wealth Partners LLC increased its position in shares of Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after acquiring an additional 349 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Zions Bancorporation, N.A.

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

Zions Bancorporation, N.A. Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Zions Bancorporation, N.A. (NASDAQ:ZION)

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