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

Key Points

• JPMorgan Chase & Co. cut its price target on Zions Bancorporation from $68.00 to $62.00 and maintained a "neutral" rating, implying roughly a 6.4% upside from the current share price.
• The analyst consensus remains a Hold, with a consensus price target of about $62.95 and a distribution of 1 Strong Buy, 5 Buy, 15 Hold and 1 Sell from covering analysts.
• Insiders have been net sellers—55,581 shares (~$3.5M) sold in the past 90 days—while the stock trades around $58.26 with a market cap of $8.57B and a P/E of 9.71.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $68.00 to $62.00 in a research note issued on Wednesday,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 6.42% from the stock's current price.

A number of other equities analysts also recently issued reports on ZION. Stephens increased their price objective on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 21st. Piper Sandler lifted their price objective on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, January 21st. Barclays boosted their target price on shares of 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. Morgan Stanley lowered their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a "sector perform" rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of "Hold" and a consensus 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, hitting $58.26. The stock had a trading volume of 1,337,851 shares, compared to its average volume of 1,889,474. The firm has a fifty day moving average of $58.78 and a two-hundred day moving average of $56.76. 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. The company has a market capitalization of $8.57 billion, a PE ratio of 9.71 and a beta of 0.83.

Insider Buying and Selling

In related news, VP Eric Ellingsen sold 1,519 shares of the firm's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $61.27, for a total value of $93,069.13. Following the completion of the transaction, the vice president directly owned 40,361 shares of the company's stock, valued at approximately $2,472,918.47. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 2,089 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.48, for a total value of $130,520.72. Following the completion of the sale, the executive vice president directly owned 22,733 shares of the company's stock, valued at $1,420,357.84. The trade was a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,581 shares of company stock valued at $3,498,774 in the last ninety days. Company insiders own 1.43% of the company's stock.

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

Institutional investors have recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter worth approximately $32,000. Leonteq Securities AG purchased a new position in Zions Bancorporation, N.A. during the 4th quarter worth $32,000. Community Bank N.A. purchased a new position in Zions Bancorporation, N.A. during the 3rd quarter worth $36,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth $36,000. Finally, Steph & Co. purchased a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth $37,000. Institutional investors own 76.84% of the company's stock.

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.

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