JPMorgan Chase & Co. Boosts Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective increased by analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.95% from the company’s current price.

Other equities analysts have also issued reports about the company. Citigroup increased their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Morgan Stanley upped their price objective on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Friday, October 17th. Evercore ISI boosted their price target on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an “underperform” rating to a “hold” rating and upped their price target for the company from $45.00 to $60.00 in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.60.

Zions Bancorporation, N.A. Stock Down 1.9%

ZION stock opened at $51.69 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The firm’s 50-day simple moving average is $55.82 and its 200 day simple moving average is $51.64. The stock has a market cap of $7.63 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. The business had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. As a group, sell-side analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZION. Picton Mahoney Asset Management acquired a new position in shares of Zions Bancorporation, N.A. in the first quarter worth about $25,000. Traub Capital Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the second quarter worth about $31,000. Assetmark Inc. boosted its holdings in shares of Zions Bancorporation, N.A. by 75.3% in the second quarter. Assetmark Inc. now owns 673 shares of the bank’s stock worth $35,000 after buying an additional 289 shares during the period. Steph & Co. acquired a new position in shares of Zions Bancorporation, N.A. in the third quarter worth about $37,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Zions Bancorporation, N.A. in the third quarter worth about $37,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. 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.