The Goldman Sachs Group Raises Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $67.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target upped by equities researchers at The Goldman Sachs Group from $59.00 to $67.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 10.42% from the company’s previous close.

A number of other brokerages also recently commented on ZION. Stephens upped their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group cut their price objective on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. JPMorgan Chase & Co. cut their price objective on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, StockNews.com raised shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and an average price target of $55.13.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $60.68 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. Zions Bancorporation, National Association has a 12 month low of $33.74 and a 12 month high of $63.22. The firm has a market capitalization of $8.96 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 5.46 and a beta of 1.07. The business’s fifty day moving average price is $52.40 and its 200 day moving average price is $47.92.

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

Insider Buying and Selling

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the vice president now directly owns 35,878 shares in the company, valued at $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,375 shares of company stock worth $527,748. 2.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

Several large investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new stake in Zions Bancorporation, National Association during the third quarter worth approximately $28,000. ORG Partners LLC acquired a new stake in Zions Bancorporation, National Association during the 2nd quarter worth about $33,000. International Assets Investment Management LLC purchased a new stake in Zions Bancorporation, National Association during the second quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in shares of Zions Bancorporation, National Association in the second quarter worth about $39,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of Zions Bancorporation, National Association by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock worth $49,000 after acquiring an additional 372 shares in 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.