JPMorgan Chase & Co. Lowers Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its target price dropped by research analysts at JPMorgan Chase & Co. from $65.00 to $62.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.99% from the company’s current price.

Several other brokerages have also recently weighed in on ZION. UBS Group began coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. Wedbush upped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Stephens boosted their target price on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average price target of $58.25.

Zions Bancorporation, National Association Stock Performance

Shares of ZION opened at $54.87 on Tuesday. The stock has a 50 day moving average of $57.10 and a 200 day moving average of $50.95. 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 has a 12 month low of $37.76 and a 12 month high of $63.22. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 5.10 and a beta of 1.12.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same quarter last year, the business posted $1.13 EPS. As a group, sell-side analysts forecast that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,881 shares of company stock valued at $1,108,184 in the last ninety days. 2.22% of the stock is owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new stake in Zions Bancorporation, National Association during the third quarter valued at $28,000. Allspring Global Investments Holdings LLC grew its position in shares of Zions Bancorporation, National Association by 68.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,289 shares of the bank’s stock valued at $56,000 after purchasing an additional 526 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Zions Bancorporation, National Association by 26.4% in the 2nd 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 last quarter. Acadian Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association in the 2nd quarter valued at $101,000. Finally, Venturi Wealth Management LLC increased its position in shares of Zions Bancorporation, National Association by 209.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after purchasing an additional 1,671 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

About Zions Bancorporation, National Association

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.