Royal Bank of Canada Increases Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $48.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target lifted by Royal Bank of Canada from $47.00 to $48.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price indicates a potential upside of 5.82% from the company’s previous close.

A number of other brokerages have also recently commented on ZION. Evercore ISI increased their price target on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They issued a “hold” rating and a $47.00 price target for the company. Truist Financial reaffirmed a “hold” rating and set a $46.00 price objective on shares of Zions Bancorporation, National Association in a research note on Monday, April 1st. UBS Group lowered their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Finally, StockNews.com lowered Zions Bancorporation, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.88.

Zions Bancorporation, National Association Trading Up 3.3 %

Shares of Zions Bancorporation, National Association stock opened at $45.36 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82. Zions Bancorporation, National Association has a 1 year low of $28.90 and a 1 year high of $46.15. The firm has a market cap of $6.70 billion, a PE ratio of 11.40, a PEG ratio of 4.91 and a beta of 1.11. The company has a 50 day simple moving average of $42.80 and a two-hundred day simple moving average of $41.96.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Friday, April 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.02). Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $747.21 million. During the same quarter last year, the firm posted $1.33 earnings per share. Analysts expect that Zions Bancorporation, National Association will post 4.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the transaction, the executive vice president now owns 22,238 shares of the company’s stock, valued at $970,911.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zions Bancorporation, National Association news, EVP Rebecca K. Robinson sold 5,291 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares in the company, valued at approximately $970,911.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Alan M. Forney sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total transaction of $65,520.00. Following the completion of the transaction, the chief executive officer now owns 22,181 shares of the company’s stock, valued at $968,866.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,296 shares of company stock worth $319,192. 2.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new position in Zions Bancorporation, National Association in the first quarter valued at about $27,000. Federated Hermes Inc. boosted its position in shares of Zions Bancorporation, National Association by 105.4% in the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock worth $28,000 after purchasing an additional 331 shares during the period. Jones Financial Companies Lllp bought a new position in Zions Bancorporation, National Association in the 4th quarter worth $29,000. Quarry LP purchased a new stake in shares of Zions Bancorporation, National Association during the fourth quarter worth about $49,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Zions Bancorporation, National Association by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock valued at $49,000 after buying an additional 372 shares in the last quarter. Institutional investors 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.