Zions Bancorporation, National Association (NASDAQ:ZION) Given New $69.00 Price Target at DA Davidson

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target boosted by investment analysts at DA Davidson from $66.00 to $69.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. DA Davidson’s price objective would suggest a potential upside of 17.33% from the stock’s current price.

Several other research analysts also recently issued reports on the company. UBS Group initiated coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective for the company. Royal Bank of Canada upped their price objective on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their target price on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Compass Point lifted their target price on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wedbush raised their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.82.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $58.81 on Wednesday. The stock has a market cap of $8.69 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.11 and a beta of 1.12. Zions Bancorporation, National Association has a twelve month low of $37.76 and a twelve month high of $63.22. The stock has a 50 day moving average of $57.25 and a two-hundred day moving average of $51.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787,704.90 billion. During the same period in the prior year, the business earned $0.78 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the transaction, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,321,210.44. The trade was a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,881 shares of company stock valued at $1,108,184 in the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several hedge funds have recently made changes to their positions in ZION. State Street Corp grew its position in Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Zions Bancorporation, National Association by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock valued at $221,367,000 after purchasing an additional 140,084 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Zions Bancorporation, National Association by 25.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock worth $126,762,000 after purchasing an additional 538,049 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Zions Bancorporation, National Association by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock worth $124,592,000 after purchasing an additional 30,030 shares during the period. Finally, AQR Capital Management LLC increased its stake in Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock valued at $43,294,000 after buying an additional 433,513 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.