Wells Fargo & Company Forecasts Strong Price Appreciation for Zions Bancorporation, National Association (NASDAQ:ZION) Stock

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target hoisted by equities researchers at Wells Fargo & Company from $54.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.18% from the company’s current price.

Several other brokerages have also commented on ZION. Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. Wedbush raised their price target on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.59.

Zions Bancorporation, National Association Trading Down 0.2 %

NASDAQ ZION opened at $59.51 on Friday. Zions Bancorporation, National Association has a 12 month low of $33.66 and a 12 month high of $61.80. The company’s 50-day moving average price is $50.44 and its 200-day moving average price is $47.09. The stock has a market cap of $8.79 billion, a PE ratio of 13.56, a PEG ratio of 5.27 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. The company had revenue of $1.28 billion during 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 firm earned $1.13 earnings per share. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the sale, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,321,210.44. The trade was a 15.07 % decrease in their position. The transaction was disclosed in a 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 value of $75,319.92. Following the completion of the transaction, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,228 shares of company stock worth $519,048 in the last 90 days. Corporate insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in shares of Zions Bancorporation, National Association during the 3rd quarter valued at about $28,000. ORG Partners LLC purchased a new stake in shares of Zions Bancorporation, National Association during the second quarter worth $33,000. International Assets Investment Management LLC acquired a new stake in Zions Bancorporation, National Association in the 2nd quarter valued at about $34,000. Rothschild Investment LLC acquired a new stake in Zions Bancorporation, National Association in the second quarter valued at approximately $39,000. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Zions Bancorporation, National Association by 49.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock valued at $49,000 after purchasing an additional 372 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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.