Morgan Stanley Issues Positive Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) had its target price increased by research analysts at Morgan Stanley from $60.00 to $66.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the bank's stock. Morgan Stanley's target price indicates a potential upside of 19.18% from the stock's previous close.

Several other brokerages have also recently issued reports on ZION. Stephens reduced their price objective on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price objective on Zions Bancorporation, N.A. from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price target for the company from $45.00 to $60.00 in a research report on Tuesday. Robert W. Baird cut their price objective on Zions Bancorporation, N.A. from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada boosted their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $60.78.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $0.20 during trading on Tuesday, hitting $55.38. The stock had a trading volume of 1,806,946 shares, compared to its average volume of 1,631,638. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. The company has a quick ratio of 0.83, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock has a 50-day simple moving average of $51.09 and a two-hundred day simple moving average of $50.85.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share (EPS) 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 firm had revenue of $838.00 million during the quarter, compared to analysts' expectations of $810.24 million. During the same period last year, the business posted $1.28 earnings per share. On average, equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth about $25,000. Curat Global LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth about $25,000. New Age Alpha Advisors LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth about $40,000. Covestor Ltd lifted its stake in Zions Bancorporation, N.A. by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank's stock worth $46,000 after acquiring an additional 479 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Zions Bancorporation, N.A. during the 1st quarter worth about $50,000. Institutional investors and hedge funds 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.