Morgan Stanley Issues Positive Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target lifted by research analysts at Morgan Stanley from $68.00 to $77.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price objective would indicate a potential upside of 11.23% from the stock’s current price.

Several other analysts have also weighed in on the stock. TD Cowen raised their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Brean Capital assumed coverage on Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Citigroup lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Barclays lifted their price target on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Zions Bancorporation, N.A. presently has an average rating of “Hold” and an average price target of $66.88.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $0.09 during midday trading on Monday, hitting $69.23. The stock had a trading volume of 524,862 shares, compared to its average volume of 1,733,506. The company has a market capitalization of $10.18 billion, a PE ratio of 10.76, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $63.40 and a two-hundred day moving average price of $60.63. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $69.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The business had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. During the same period last year, the company posted $1.13 EPS. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 6.45 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a stock buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Torren Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth approximately $32,000. Leonteq Securities AG bought a new position in Zions Bancorporation, N.A. during the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth $36,000. Community Bank N.A. acquired a new position in shares of Zions Bancorporation, N.A. during the 3rd quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $42,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.