Piper Sandler Has Lowered Expectations for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective dropped by stock analysts at Piper Sandler from $65.00 to $62.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 8.91% from the stock’s current price.

ZION has been the subject of several other reports. Royal Bank Of Canada raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 21st. Morgan Stanley cut their price objective on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday. Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Monday, March 9th. Weiss Ratings lowered Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 12th. Finally, Brean Capital started coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.79.

Zions Bancorporation, N.A. Stock Down 2.3%

Shares of ZION opened at $56.93 on Thursday. The business’s 50 day moving average is $58.71 and its 200 day moving average is $56.77. The company has a market capitalization of $8.37 billion, a PE ratio of 9.49 and a beta of 0.81. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $66.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Steven Dan Stephens sold 15,476 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $65.90, for a total transaction of $1,019,868.40. Following the completion of the transaction, the executive vice president directly owned 41,127 shares of the company’s stock, valued at approximately $2,710,269.30. The trade was a 27.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harris H. Simmons purchased 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the acquisition, the chief executive officer directly owned 1,317,493 shares in the company, valued at $77,771,611.79. The trade was a 0.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 55,581 shares of company stock valued at $3,498,774 over the last three months. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Zions Bancorporation, N.A. by 17.1% in the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock worth $70,000 after buying an additional 174 shares during the period. Michels Family Financial LLC grew its position in Zions Bancorporation, N.A. by 1.5% in the 4th quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock valued at $711,000 after acquiring an additional 185 shares during the last quarter. C M Bidwell & Associates Ltd. increased its stake in Zions Bancorporation, N.A. by 13.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after purchasing an additional 185 shares during the period. DAVENPORT & Co LLC increased its stake in Zions Bancorporation, N.A. by 2.7% in the third quarter. DAVENPORT & Co LLC now owns 7,500 shares of the bank’s stock worth $424,000 after purchasing an additional 200 shares during the period. Finally, Alta Capital Management LLC lifted its position in shares of Zions Bancorporation, N.A. by 0.7% during the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.