JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price boosted by JPMorgan Chase & Co. from $50.00 to $55.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 0.42% from the company’s current price.

A number of other equities research analysts also recently commented on ZION. Jefferies Financial Group initiated coverage on Zions Bancorporation, N.A. in a research report on Wednesday, May 21st. They issued an “underperform” rating and a $40.00 target price on the stock. Truist Financial began coverage on Zions Bancorporation, N.A. in a research note on Tuesday, May 13th. They issued a “hold” rating and a $52.00 price objective on the stock. Royal Bank Of Canada decreased their price objective on Zions Bancorporation, N.A. from $63.00 to $53.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird cut their target price on shares of Zions Bancorporation, N.A. from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen raised shares of Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.22.

Zions Bancorporation, N.A. Stock Up 1.9%

Shares of ZION stock opened at $54.77 on Tuesday. The company’s fifty day moving average price is $48.13 and its 200-day moving average price is $50.72. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.75 and a beta of 0.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.83 and a quick ratio of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $792.49 million. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. During the same period in the previous year, the firm earned $0.96 EPS. Sell-side analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently modified their holdings of ZION. AQR Capital Management LLC increased its holdings in Zions Bancorporation, N.A. by 326.4% during the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock worth $139,927,000 after purchasing an additional 2,194,514 shares during the period. Norges Bank purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $73,542,000. Balyasny Asset Management L.P. increased its stake in shares of Zions Bancorporation, N.A. by 249.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock valued at $88,130,000 after buying an additional 1,159,888 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $51,116,000. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Zions Bancorporation, N.A. by 57.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank’s stock worth $106,368,000 after acquiring an additional 778,861 shares during the period. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.