Zions Bancorporation, National Association (NASDAQ:ZION) Given New $63.00 Price Target at Royal Bank of Canada

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective lifted by analysts at Royal Bank of Canada from $61.00 to $63.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 8.19% from the stock’s current price.

ZION has been the topic of several other research reports. Robert W. Baird raised their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods raised their price target on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday. Compass Point boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Truist Financial lifted their price objective on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus target price of $60.71.

Zions Bancorporation, National Association Stock Performance

Shares of NASDAQ ZION traded down $0.80 during trading on Wednesday, reaching $58.23. 1,246,115 shares of the stock traded hands, compared to its average volume of 1,265,542. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $8.60 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12. Zions Bancorporation, National Association has a 52-week low of $37.76 and a 52-week high of $63.22. The company has a 50-day moving average of $57.25 and a 200-day moving average of $51.88.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share 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 company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787,704.90 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Insider Buying and Selling at Zions Bancorporation, National Association

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

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several institutional investors have recently bought and sold shares of ZION. CVA Family Office LLC lifted its holdings in shares of Zions Bancorporation, National Association by 0.9% in the 3rd quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock valued at $1,191,000 after acquiring an additional 217 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Zions Bancorporation, National Association by 1.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock worth $937,000 after purchasing an additional 249 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in shares of Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after acquiring an additional 296 shares during the period. Centaurus Financial Inc. increased its holdings in Zions Bancorporation, National Association by 8.3% during the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock worth $170,000 after purchasing an additional 299 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Zions Bancorporation, National Association by 0.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock valued at $1,947,000 after acquiring an additional 348 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Company Profile

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.