Morgan Stanley Lowers Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $68.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price reduced by equities researchers at Morgan Stanley from $75.00 to $68.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price objective would indicate a potential upside of 16.72% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. TD Cowen boosted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Brean Capital started coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Evercore lifted their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Stephens upped their target price on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Finally, Barclays increased their price target on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus price target of $62.95.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $58.26 on Tuesday. The stock has a market capitalization of $8.57 billion, a PE ratio of 9.71 and a beta of 0.81. The business’s fifty day moving average price is $58.71 and its 200 day moving average price is $56.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85. 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 Zions Bancorporation, N.A. news, President Scott J. Mclean sold 28,980 shares of the company’s 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 transaction, the president owned 82,250 shares in the company, valued at approximately $5,029,587.50. This represents a 26.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Dan Stephens sold 15,476 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $65.90, for a total value of $1,019,868.40. Following the sale, the executive vice president directly owned 41,127 shares in the company, valued at approximately $2,710,269.30. This trade represents a 27.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,581 shares of company stock worth $3,498,774 in the last quarter. 2.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Zions Bancorporation, N.A. by 76.3% during the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after purchasing an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Zions Bancorporation, N.A. by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after buying an additional 6,393 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Zions Bancorporation, N.A. by 0.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after buying an additional 2,659 shares in the last quarter. Focus Partners Wealth increased its stake in Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after buying an additional 10,283 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Zions Bancorporation, N.A. by 15.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 79,417 shares of the bank’s stock worth $4,124,000 after buying an additional 10,901 shares in the last quarter. 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.