Zions Bancorporation, National Association (NASDAQ:ZION) Price Target Cut to $62.00 by Analysts at JPMorgan Chase & Co.

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $65.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.99% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ZION. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Compass Point lifted their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays boosted their target price on shares of Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock an “underweight” rating in a research report on Monday. Stephens raised their price target on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, UBS Group started coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average price target of $58.25.

Zions Bancorporation, National Association Stock Down 1.0 %

Zions Bancorporation, National Association stock opened at $54.87 on Tuesday. The stock has a 50 day moving average of $57.10 and a two-hundred day moving average of $50.95. Zions Bancorporation, National Association has a twelve month low of $37.76 and a twelve month high of $63.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 5.10 and a beta of 1.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same period in the prior year, the business posted $1.13 earnings per share. As a group, research analysts expect that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total transaction of $234,422.10. Following the sale, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock valued at $1,108,184 in the last quarter. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently made changes to their positions in ZION. Dimensional Fund Advisors LP increased its position in Zions Bancorporation, National Association by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after purchasing an additional 929,251 shares in the last quarter. State Street Corp increased its stake in Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Artemis Investment Management LLP boosted its position in shares of Zions Bancorporation, National Association by 165.0% during the 3rd quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after purchasing an additional 563,889 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after buying an additional 538,049 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Zions Bancorporation, National Association in the third quarter valued at approximately $24,647,000. 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.