Zions Bancorporation, National Association (NASDAQ:ZION) Given New $56.00 Price Target at Evercore ISI

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target dropped by research analysts at Evercore ISI from $58.00 to $56.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Evercore ISI’s target price points to a potential upside of 21.58% from the stock’s previous close.

Several other research firms have also weighed in on ZION. Compass Point raised their price objective on shares of Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Argus cut shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on Zions Bancorporation, National Association from $44.00 to $52.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. Wells Fargo & Company cut their price objective on Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 21st. Finally, Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.17.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ:ZION traded up $0.46 during trading hours on Wednesday, hitting $46.06. The stock had a trading volume of 357,876 shares, compared to its average volume of 2,164,621. Zions Bancorporation, National Association has a 1-year low of $28.90 and a 1-year high of $53.32. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.81 and a beta of 1.09. The stock’s fifty day simple moving average is $47.52 and its 200 day simple moving average is $44.56. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.10 by $0.18. The firm had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. Zions Bancorporation, National Association’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $1.11 EPS. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.51 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Bruce K. Alexander sold 5,156 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the transaction, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the transaction, the executive vice president now owns 24,640 shares in the company, valued at approximately $1,275,859.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now directly owns 17,857 shares in the company, valued at $925,528.31. The disclosure for this sale can be found here. Insiders have sold a total of 67,073 shares of company stock worth $3,476,298 in the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Large investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC acquired a new stake in Zions Bancorporation, National Association in the 1st quarter worth approximately $27,000. Jones Financial Companies Lllp bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth $29,000. ORG Partners LLC acquired a new position in Zions Bancorporation, National Association in the 2nd quarter valued at $33,000. International Assets Investment Management LLC bought a new position in Zions Bancorporation, National Association in the 2nd quarter worth $34,000. Finally, Rothschild Investment LLC acquired a new position in Zions Bancorporation, National Association during the 2nd quarter worth $39,000. 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.