TD Cowen Issues Pessimistic Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target reduced by equities researchers at TD Cowen from $64.00 to $63.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. TD Cowen’s target price would indicate a potential upside of 3.58% from the company’s previous close.

A number of other equities research analysts have also issued reports on ZION. Baird R W raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Bank of America raised shares of Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $59.00 to $62.00 in a research note on Thursday, October 23rd. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Friday, October 17th. UBS Group cut their price target on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.16.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $60.82 on Wednesday. The firm has a fifty day moving average price of $55.62 and a 200 day moving average price of $55.11. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $61.57. The stock has a market cap of $8.98 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. The company had revenue of $705.00 million for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. Equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Insider Activity at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the sale, the executive vice president owned 27,133 shares of the company’s stock, valued at approximately $1,441,033.63. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Zions Bancorporation, N.A. by 3.1% during 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 during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Zions Bancorporation, N.A. by 0.4% in the third 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 during the period. LSV Asset Management grew its position in shares of Zions Bancorporation, N.A. by 4.5% during the second quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock worth $205,689,000 after acquiring an additional 169,085 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Zions Bancorporation, N.A. by 14.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock valued at $183,546,000 after acquiring an additional 409,065 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after acquiring an additional 711,218 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Company Profile

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.