Morgan Stanley Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Key Points

• Morgan Stanley has raised its price target for Zions Bancorporation, N.A. from $63.00 to $70.00, indicating a potential upside of 22.78% from the previous close.
• Analysts show a diverse outlook on Zions, with one strong buy, four buy, and fourteen hold ratings, leading to a consensus price target of $61.30.
• Zions Bancorporation reported an earnings per share of $1.58 for the last quarter, exceeding analyst estimates and marking an increase from $1.28 in the previous year.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) had its price objective lifted by investment analysts at Morgan Stanley from $63.00 to $70.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Morgan Stanley's price target suggests a potential upside of 22.78% from the company's previous close.

A number of other research analysts have also weighed in on ZION. DA Davidson raised their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Citigroup lifted their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. TD Cowen started coverage on shares of Zions Bancorporation, N.A. in a research note on Thursday. They issued a "hold" rating and a $64.00 price target for the company. Robert W. Baird lifted their price objective on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their price target for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and a consensus price target of $61.30.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION traded down $0.53 during mid-day trading on Monday, hitting $57.01. The stock had a trading volume of 470,256 shares, compared to its average volume of 1,581,721. The company has a 50 day moving average of $55.66 and a two-hundred day moving average of $50.99. The firm has a market cap of $8.42 billion, a PE ratio of 10.43, a PEG ratio of 1.50 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.27. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The company had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. During the same period last year, the firm earned $1.28 EPS. Research analysts predict 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 the business. Osaic Holdings Inc. lifted its holdings in shares of Zions Bancorporation, N.A. by 9.3% in the second quarter. Osaic Holdings Inc. now owns 22,999 shares of the bank's stock valued at $1,194,000 after purchasing an additional 1,961 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 37.5% during the second quarter. Centaurus Financial Inc. now owns 5,385 shares of the bank's stock valued at $280,000 after buying an additional 1,469 shares during the period. Advisory Services Network LLC lifted its stake in shares of Zions Bancorporation, N.A. by 5.5% during the second quarter. Advisory Services Network LLC now owns 19,640 shares of the bank's stock valued at $1,053,000 after buying an additional 1,024 shares during the period. State of Wyoming purchased a new position in Zions Bancorporation, N.A. during the second quarter worth approximately $172,000. Finally, Geneos Wealth Management Inc. raised its stake in Zions Bancorporation, N.A. by 56.6% during the second quarter. Geneos Wealth Management Inc. now owns 7,005 shares of the bank's stock worth $364,000 after purchasing an additional 2,531 shares during the period. Hedge funds and other 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.

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