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

Zions Bancorporation, National Association (NASDAQ:ZION) had its price target reduced by JPMorgan Chase & Co. from $65.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.30% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Compass Point upped their price target on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wolfe Research raised shares of Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday. Barclays increased their price target on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Truist Financial boosted their price objective on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus price target of $58.25.

Zions Bancorporation, National Association Trading Up 0.3 %

Shares of ZION traded up $0.19 during trading hours on Tuesday, hitting $55.21. The stock had a trading volume of 741,659 shares, compared to its average volume of 863,912. The company’s fifty day simple moving average is $57.00 and its 200 day simple moving average is $50.82. The firm has a market cap of $8.16 billion, a P/E ratio of 12.58, a P/E/G ratio of 5.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion for 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 quarter in the previous year, the business posted $1.13 EPS. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 18,881 shares of company stock valued at $1,108,184. Company insiders own 2.22% of the company’s stock.

Institutional Trading of Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently modified their holdings of ZION. ORG Wealth Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC lifted its stake in 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 acquiring an additional 526 shares during the last quarter. Abich Financial Wealth Management LLC grew its position in Zions Bancorporation, National Association by 26.4% in the second 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 in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Zions Bancorporation, National Association during the 2nd quarter worth $101,000. Finally, Venturi Wealth Management LLC raised its holdings 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 valued at $117,000 after purchasing an additional 1,671 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.