Zions Bancorporation, N.A. (NASDAQ:ZION) Upgraded to Buy at Jefferies Financial Group

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Wednesday,Benzinga reports. The firm presently has a $60.00 price target on the bank’s stock, up from their prior price target of $55.00. Jefferies Financial Group’s price target would indicate a potential upside of 21.61% from the stock’s previous close.

Several other research firms also recently commented on ZION. Piper Sandler dropped their price objective on Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Wells Fargo & Company boosted their target price on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Zacks Research downgraded Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, DA Davidson upped their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus target price of $61.29.

Zions Bancorporation, N.A. Trading Up 0.9%

Shares of Zions Bancorporation, N.A. stock opened at $49.34 on Wednesday. The firm has a market cap of $7.28 billion, a PE ratio of 8.84, a P/E/G ratio of 0.85 and a beta of 0.96. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a fifty day moving average price of $54.18 and a 200-day moving average price of $52.82.

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

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 2,458 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the transaction, the executive vice president owned 27,133 shares of the company’s stock, valued at approximately $1,441,033.63. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZION. Vanguard Group Inc. raised its position in shares of Zions Bancorporation, N.A. by 3.1% in the second quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock worth $1,002,875,000 after buying an additional 582,392 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, N.A. by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,343,076 shares of the bank’s stock valued at $415,474,000 after acquiring an additional 30,552 shares in the last quarter. LSV Asset Management boosted its position in shares of Zions Bancorporation, N.A. by 4.5% during the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock valued at $205,689,000 after acquiring an additional 169,085 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Zions Bancorporation, N.A. by 14.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock worth $183,546,000 after purchasing an additional 409,065 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares during the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.