Royal Bank Of Canada Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target increased by equities researchers at Royal Bank Of Canada from $63.00 to $64.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 4.41% from the company’s previous close.

A number of other research firms have also recently commented on ZION. Barclays raised their target price on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. raised their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. TD Cowen reduced their target price on Zions Bancorporation, N.A. from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, January 7th. Finally, Piper Sandler dropped their price target on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.95.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION traded up $2.21 during trading hours on Wednesday, hitting $61.30. The stock had a trading volume of 474,287 shares, compared to its average volume of 1,429,191. The firm has a 50-day moving average price of $56.80 and a 200 day moving average price of $55.55. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $61.72. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, October 20th. The bank reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.29. The company had revenue of $872.00 million during the quarter, compared to analysts’ expectations of $842.68 million. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. During the same quarter in the previous year, the company earned $1.37 earnings per share. As a group, research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $53.11, for a total value of $130,544.38. Following the completion of the sale, the executive vice president directly owned 27,133 shares in the company, valued at $1,441,033.63. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZION. Traub Capital Management LLC acquired a new stake in Zions Bancorporation, N.A. during the second quarter worth about $31,000. Assetmark Inc. grew its stake in shares of Zions Bancorporation, N.A. by 75.3% in the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after buying an additional 289 shares during the period. Community Bank N.A. purchased a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at approximately $36,000. Steph & Co. acquired a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth approximately $37,000. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

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.