JPMorgan Chase & Co. Cuts Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $62.00

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $68.00 to $62.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.42% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Brean Capital initiated coverage on Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Piper Sandler upped their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada increased their target price on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 21st. Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Monday, March 9th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and an average price target of $62.95.

Zions Bancorporation, N.A. Stock Up 1.1%

Shares of NASDAQ:ZION traded up $0.64 during trading on Wednesday, reaching $58.26. The stock had a trading volume of 1,337,851 shares, compared to its average volume of 1,889,474. The company has a market capitalization of $8.57 billion, a P/E ratio of 9.71 and a beta of 0.83. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $66.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $58.78 and its 200 day simple moving average is $56.76.

Insider Buying and Selling

In other news, CEO Harris H. Simmons acquired 4,500 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the purchase, the chief executive officer owned 1,317,493 shares in the company, valued at $77,771,611.79. This represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Eric Ellingsen sold 1,519 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $61.27, for a total transaction of $93,069.13. Following the sale, the vice president owned 40,361 shares of the company’s stock, valued at $2,472,918.47. This trade represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 55,581 shares of company stock valued at $3,498,774 over the last 90 days. 1.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

A number of institutional investors have recently modified their holdings of ZION. Royal Bank of Canada increased its position in shares of Zions Bancorporation, N.A. by 76.3% in the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after buying an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Zions Bancorporation, N.A. by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after purchasing an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 during the period. Focus Partners Wealth grew its holdings in Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 10,283 shares during the period. Finally, Russell Investments Group Ltd. grew its stake 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 valued at $4,124,000 after buying an additional 10,901 shares during the period. 76.84% of the stock is currently owned by hedge funds and other 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.