Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Upgraded by Morgan Stanley

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat reports. The firm currently has a $75.00 target price on the bank’s stock, up from their prior target price of $70.00. Morgan Stanley’s target price would indicate a potential upside of 30.10% from the stock’s previous close.

ZION has been the topic of a number of other reports. Jefferies Financial Group raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $60.00 in a research note on Wednesday, November 19th. UBS Group lowered 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. Stephens raised their price target on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Truist Financial upped their price objective on shares of Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, January 22nd. Finally, TD Cowen boosted their price target on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.58.

Zions Bancorporation, N.A. Stock Down 0.8%

Shares of NASDAQ:ZION opened at $57.65 on Monday. The stock has a market capitalization of $8.53 billion, a P/E ratio of 9.61 and a beta of 0.83. The stock’s 50-day moving average price is $60.39 and its 200-day moving average price is $56.93. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $66.18.

Insider Transactions at Zions Bancorporation, N.A.

In other news, CEO Harris H. Simmons acquired 4,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was acquired at an average price of $59.03 per share, with a total value of $265,635.00. Following the completion of the transaction, the chief executive officer owned 1,317,493 shares of the company’s stock, valued at $77,771,611.79. This represents a 0.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Scott J. Mclean sold 28,980 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $61.15, for a total transaction of $1,772,127.00. Following the completion of the sale, the president directly owned 82,250 shares in the company, valued at $5,029,587.50. This represents a 26.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 55,581 shares of company stock worth $3,498,774. 1.77% of the stock is owned by insiders.

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

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Zions Bancorporation, N.A. by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock valued at $1,002,875,000 after purchasing an additional 582,392 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Zions Bancorporation, N.A. by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,420,688 shares of the bank’s stock worth $434,407,000 after buying an additional 77,612 shares in the last quarter. LSV Asset Management grew its holdings 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 valued at $205,689,000 after buying an additional 169,085 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position 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 valued at $183,546,000 after acquiring an additional 409,065 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Zions Bancorporation, N.A. by 10.8% in the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after acquiring an additional 306,717 shares during the last quarter. Institutional investors 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.