Royal Bank of Canada Raises Zions Bancorporation, National Association (NASDAQ:ZION) Price Target to $47.00

Zions Bancorporation, National Association (NASDAQ:ZION) had its price objective raised by equities researchers at Royal Bank of Canada from $46.00 to $47.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price objective points to a potential upside of 11.45% from the company’s current price.

Several other equities analysts have also issued reports on ZION. Evercore ISI boosted their price target on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Robert W. Baird lowered their target price on Zions Bancorporation, National Association from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. Compass Point reaffirmed a “neutral” rating on shares of Zions Bancorporation, National Association in a research report on Monday, January 8th. Barclays increased their price target on Zions Bancorporation, National Association from $35.00 to $47.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Finally, Jefferies Financial Group lowered their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.16.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $42.17 on Tuesday. The business’s 50-day moving average price is $40.86 and its 200-day moving average price is $39.29. Zions Bancorporation, National Association has a 12 month low of $18.26 and a 12 month high of $46.15. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 10.60 and a beta of 1.13. The company has a current ratio of 0.77, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same period in the prior year, the firm earned $1.33 earnings per share. Equities research analysts forecast that Zions Bancorporation, National Association will post 4.28 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Harris H. Simmons bought 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $38.54 per share, for a total transaction of $154,160.00. Following the purchase, the chief executive officer now directly owns 1,312,987 shares in the company, valued at $50,602,518.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zions Bancorporation, National Association news, CEO Harris H. Simmons purchased 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of $38.54 per share, with a total value of $154,160.00. Following the acquisition, the chief executive officer now directly owns 1,312,987 shares in the company, valued at approximately $50,602,518.98. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Harris H. Simmons purchased 3,600 shares of the stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $38.99 per share, for a total transaction of $140,364.00. Following the acquisition, the chief executive officer now owns 1,261,866 shares in the company, valued at $49,200,155.34. The disclosure for this purchase can be found here. Insiders sold a total of 18,022 shares of company stock worth $744,893 in the last quarter. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, National Association by 22.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock valued at $220,077,000 after buying an additional 927,899 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Zions Bancorporation, National Association by 1.4% during the 3rd quarter. Invesco Ltd. now owns 3,973,319 shares of the bank’s stock valued at $138,629,000 after buying an additional 53,859 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Zions Bancorporation, National Association by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,746,184 shares of the bank’s stock valued at $164,345,000 after buying an additional 27,934 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Zions Bancorporation, National Association by 16.9% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,326,970 shares of the bank’s stock valued at $81,188,000 after buying an additional 336,893 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Zions Bancorporation, National Association by 119.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after buying an additional 1,259,571 shares in the last quarter. 76.84% of the stock is 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.