Evercore ISI Raises Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $61.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target raised by equities researchers at Evercore ISI from $56.00 to $61.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Evercore ISI’s price target suggests a potential upside of 17.17% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a report on Wednesday, September 18th. Wells Fargo & Company increased their price target on Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their price objective on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on 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. Finally, Jefferies Financial Group dropped their target price on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.12.

Zions Bancorporation, National Association Stock Down 1.6 %

NASDAQ ZION opened at $52.06 on Wednesday. The stock has a market cap of $7.69 billion, a PE ratio of 11.86, a P/E/G ratio of 1.82 and a beta of 1.09. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average is $48.50 and its 200 day moving average is $45.78. Zions Bancorporation, National Association has a 12 month low of $29.78 and a 12 month high of $53.85.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.16 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same quarter in the prior year, the company posted $1.13 EPS. Research analysts predict that Zions Bancorporation, National Association will post 4.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank lifted its holdings in shares of Zions Bancorporation, National Association by 331.1% in the 1st quarter. Comerica Bank now owns 118,861 shares of the bank’s stock valued at $5,159,000 after purchasing an additional 91,289 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Zions Bancorporation, National Association during the 1st quarter worth approximately $1,959,000. Retirement Systems of Alabama raised its position in shares of Zions Bancorporation, National Association by 469.8% during the 1st quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock worth $8,074,000 after purchasing an additional 153,387 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Zions Bancorporation, National Association by 345.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 88,271 shares of the bank’s stock worth $3,831,000 after purchasing an additional 68,445 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Zions Bancorporation, National Association by 71.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 118,248 shares of the bank’s stock worth $5,136,000 after purchasing an additional 49,213 shares during 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.