Evercore Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price boosted by analysts at Evercore from $65.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “in-line” rating on the bank’s stock. Evercore’s target price suggests a potential upside of 4.15% from the company’s previous close.

A number of other analysts also recently issued reports on ZION. UBS Group lowered their price target on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Bank of America raised shares of Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and increased their target price for the company from $59.00 to $62.00 in a research note on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research report on Wednesday, November 19th. Finally, Barclays boosted 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.32.

Zions Bancorporation, N.A. Trading Up 1.8%

ZION opened at $65.29 on Thursday. The stock has a 50-day moving average of $59.27 and a 200 day moving average of $56.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $66.18. The firm has a market cap of $9.64 billion, a P/E ratio of 10.88 and a beta of 0.85.

Insiders Place Their Bets

In other news, VP Eric Ellingsen sold 1,519 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $61.27, for a total transaction of $93,069.13. Following the transaction, the vice president owned 40,361 shares of the company’s stock, valued at approximately $2,472,918.47. This represents a 3.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Scott J. Mclean sold 28,980 shares of Zions Bancorporation, N.A. stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $61.15, for a total value of $1,772,127.00. Following the completion of the sale, the president owned 82,250 shares of the company’s stock, valued at $5,029,587.50. The trade was a 26.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,268 shares of company stock worth $1,911,690. 2.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently modified their holdings of the business. Traub Capital Management LLC bought a new position in Zions Bancorporation, N.A. in the second quarter worth approximately $31,000. Torren Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at $32,000. Leonteq Securities AG bought a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth $32,000. Assetmark Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 75.3% during the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock worth $35,000 after purchasing an additional 289 shares during the last quarter. Finally, Community Bank N.A. bought a new stake in Zions Bancorporation, N.A. during the third quarter valued at about $36,000. 76.84% of the stock is currently owned by institutional investors.

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.