Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $68.00 Price Target at Evercore ISI

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price upped by investment analysts at Evercore ISI from $65.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the bank’s stock. Evercore ISI’s price target indicates a potential upside of 7.28% from the stock’s current price.

A number of other research firms have also weighed in on ZION. TD Cowen upped their target price on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. Piper Sandler lifted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Royal Bank Of Canada upped their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. boosted their target price on 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of “Hold” and an average price target of $63.32.

Zions Bancorporation, N.A. Stock Down 0.7%

Shares of ZION traded down $0.43 during trading hours on Thursday, hitting $63.39. The stock had a trading volume of 574,079 shares, compared to its average volume of 1,826,935. The firm has a 50 day simple moving average of $58.81 and a 200-day simple moving average of $55.90. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $64.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $9.36 billion, a P/E ratio of 10.59 and a beta of 0.85.

Insider Activity

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 769 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $60.46, for a total value of $46,493.74. Following the sale, the executive vice president directly owned 14,307 shares of the company’s stock, valued at approximately $865,001.22. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Scott J. Mclean sold 28,980 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $61.15, for a total value of $1,772,127.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,268 shares of company stock valued at $1,911,690. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $80,883,000. Allianz Asset Management GmbH raised its stake in shares of Zions Bancorporation, N.A. by 168.4% in the second quarter. Allianz Asset Management GmbH now owns 1,209,455 shares of the bank’s stock worth $62,819,000 after purchasing an additional 758,855 shares during the last quarter. AQR Capital Management LLC lifted its holdings 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 in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at $32,008,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at $31,224,000. 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.