Evercore ISI Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price raised by analysts at Evercore ISI from $65.00 to $68.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the bank’s stock. Evercore ISI’s price objective indicates a potential upside of 7.28% from the company’s previous close.

A number of other research analysts also recently weighed in on ZION. Royal Bank Of Canada increased their target price on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Citigroup boosted their target price on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.32.

Zions Bancorporation, N.A. Stock Performance

ZION traded down $0.43 during mid-day trading on Thursday, reaching $63.39. 574,079 shares of the company traded hands, compared to its average volume of 1,826,935. The company’s fifty day moving average price is $58.81 and its 200-day moving average price is $55.90. The stock has a market capitalization of $9.36 billion, a P/E ratio of 10.59 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $64.87.

Insider Activity at Zions Bancorporation, N.A.

In other news, EVP Derek Steward sold 769 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $60.46, for a total value of $46,493.74. Following the completion of the sale, the executive vice president owned 14,307 shares in the company, valued at approximately $865,001.22. This trade represents a 5.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott J. Mclean sold 28,980 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $61.15, for a total value of $1,772,127.00. Following the completion of the transaction, the president owned 82,250 shares of the company’s stock, valued at $5,029,587.50. The trade was a 26.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,268 shares of company stock worth $1,911,690 in the last three months. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Vanguard Group Inc. boosted its position in Zions Bancorporation, N.A. by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock worth $1,002,875,000 after purchasing an additional 582,392 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, N.A. by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,343,076 shares of the bank’s stock valued at $415,474,000 after buying an additional 30,552 shares during the period. LSV Asset Management boosted its holdings in Zions Bancorporation, N.A. by 4.5% in the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock worth $205,689,000 after acquiring an additional 169,085 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Zions Bancorporation, N.A. by 14.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock valued at $183,546,000 after acquiring an additional 409,065 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after purchasing an additional 711,218 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

About Zions Bancorporation, N.A.

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.