JPMorgan Chase & Co. Issues Pessimistic Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target lowered by JPMorgan Chase & Co. from $68.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.66% from the company’s previous close.

A number of other analysts also recently commented on the company. Brean Capital assumed coverage on Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They issued a “neutral” rating for the company. Robert W. Baird upgraded Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Monday, March 9th. Barclays upped their target price on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Citigroup raised their target price on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Finally, Truist Financial boosted their price target on shares of Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus target price of $62.79.

Zions Bancorporation, N.A. Stock Down 0.2%

NASDAQ ZION opened at $58.13 on Wednesday. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $66.18. The stock has a market cap of $8.55 billion, a PE ratio of 9.69 and a beta of 0.81. The firm has a 50-day simple moving average of $58.65 and a 200 day simple moving average of $56.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 0.86.

Insider Activity

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 28,980 shares of the business’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 transaction, the president directly owned 82,250 shares in the company, valued at $5,029,587.50. The trade was a 26.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Anne Smith sold 6,558 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $64.80, for a total transaction of $424,958.40. Following the sale, the executive vice president directly owned 18,761 shares in the company, valued at $1,215,712.80. This represents a 25.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,581 shares of company stock worth $3,498,774 over the last ninety days. Corporate insiders own 2.22% of the company’s stock.

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

A number of large investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans increased its stake in shares of Zions Bancorporation, N.A. by 6.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock valued at $115,483,000 after buying an additional 122,815 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Zions Bancorporation, N.A. during the 3rd quarter worth about $934,000. Bailard Inc. acquired a new position in Zions Bancorporation, N.A. during the 3rd quarter worth about $487,000. Gateway Investment Advisers LLC grew its holdings in Zions Bancorporation, N.A. by 156.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock worth $4,857,000 after acquiring an additional 52,381 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Zions Bancorporation, N.A. by 39.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,763 shares of the bank’s stock worth $5,079,000 after acquiring an additional 25,292 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

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.