Morgan Stanley Upgrades Zions Bancorporation, National Association (NASDAQ:ZION) to Equal Weight

Zions Bancorporation, National Association (NASDAQ:ZION) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $54.00 target price on the bank’s stock. Morgan Stanley’s target price indicates a potential upside of 18.42% from the company’s previous close.

ZION has been the topic of a number of other research reports. Royal Bank of Canada increased their price objective on shares of Zions Bancorporation, National Association from $48.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Robert W. Baird upped their target price on Zions Bancorporation, National Association from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Wedbush lifted their price target on shares of Zions Bancorporation, National Association from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Zions Bancorporation, National Association from $52.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $48.72.

Zions Bancorporation, National Association Trading Down 3.4 %

Shares of ZION stock opened at $45.60 on Monday. Zions Bancorporation, National Association has a fifty-two week low of $28.90 and a fifty-two week high of $53.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day simple moving average of $47.52 and a two-hundred day simple moving average of $44.56. The company has a market cap of $6.74 billion, a P/E ratio of 11.46, a PEG ratio of 2.81 and a beta of 1.09.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.18. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. Zions Bancorporation, National Association’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS. Research analysts forecast that Zions Bancorporation, National Association will post 4.51 earnings per share for the current year.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Terry Alan Shirey sold 1,917 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zions Bancorporation, National Association news, President Scott J. Mclean sold 60,000 shares of Zions Bancorporation, National Association stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $51.83, for a total value of $3,109,800.00. Following the sale, the president now owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Terry Alan Shirey sold 1,917 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the transaction, the executive vice president now owns 24,640 shares in the company, valued at $1,275,859.20. The disclosure for this sale can be found here. Insiders have sold 67,073 shares of company stock worth $3,476,298 in the last 90 days. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC purchased a new stake in Zions Bancorporation, National Association in the 1st quarter worth about $27,000. Jones Financial Companies Lllp bought a new position in Zions Bancorporation, National Association during the fourth quarter worth about $29,000. ORG Partners LLC purchased a new position in shares of Zions Bancorporation, National Association in the second quarter worth about $33,000. International Assets Investment Management LLC bought a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at approximately $34,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Zions Bancorporation, National Association during the 2nd quarter valued at approximately $39,000. Institutional investors own 76.84% of the company’s stock.

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.