Cantor Fitzgerald Upgrades Zions Bancorporation, N.A. (NASDAQ:ZION) to "Strong-Buy"

Key Points

• Cantor Fitzgerald has upgraded Zions Bancorporation, N.A. (NASDAQ:ZION) to a "strong-buy" rating in a recent report.
• Other analysts have raised their price targets for ZION, with JPMorgan Chase increasing their target from $55.00 to $63.00, while Robert W. Baird set theirs to $65.00.
• Zions Bancorporation reported quarterly earnings of $1.58 per share, exceeding estimates and showing significant revenue growth compared to analysts' expectations.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) was upgraded by research analysts at Cantor Fitzgerald to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

ZION has been the topic of several other reports. JPMorgan Chase & Co. raised their price target on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Robert W. Baird lifted their price target on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Citigroup lifted their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada lifted their price objective on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Finally, DA Davidson lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $60.95.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $57.98 on Tuesday. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.48 and a beta of 0.97. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company's 50-day moving average price is $55.19 and its 200 day moving average price is $50.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings results 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 net margin of 16.98% and a return on equity of 13.76%. The company had revenue of $838.00 million for the quarter, compared to analysts' expectations of $810.24 million. During the same period last year, the company earned $1.28 EPS. As a group, research analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently bought and sold shares of ZION. Curat Global LLC acquired a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at about $25,000. Picton Mahoney Asset Management acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter worth about $25,000. Traub Capital Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 2nd quarter worth about $31,000. Assetmark Inc. raised its holdings in Zions Bancorporation, N.A. by 75.3% during the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank's stock worth $35,000 after buying an additional 289 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter worth about $40,000. 76.84% of the stock is owned by institutional investors and hedge funds.

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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