Zions Bancorporation, N.A. (NASDAQ:ZION) Rating Increased to Strong-Buy at Cantor Fitzgerald

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 stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a report released on Tuesday, September 9th,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Citigroup increased their price target on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company increased their price target on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird increased their price target 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. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.95.

Zions Bancorporation, N.A. Stock Down 1.6%

NASDAQ:ZION traded down $0.93 during trading hours on Tuesday, reaching $56.14. The company's stock had a trading volume of 496,210 shares, compared to its average volume of 1,575,567. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The business's 50-day moving average is $55.37 and its 200-day moving average is $50.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80.

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, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $810.24 million. During the same period in the prior year, the company earned $1.28 earnings per share. Equities research analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Institutional Trading of Zions Bancorporation, N.A.

Hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management bought a new stake in shares of Zions Bancorporation, N.A. during the first quarter valued at approximately $25,000. Curat Global LLC bought a new position in Zions Bancorporation, N.A. in the first quarter valued at approximately $25,000. Traub Capital Management LLC bought a new position in Zions Bancorporation, N.A. in the second quarter valued at approximately $31,000. Assetmark Inc. boosted its stake in Zions Bancorporation, N.A. by 75.3% in the second quarter. Assetmark Inc. now owns 673 shares of the bank's stock valued at $35,000 after acquiring an additional 289 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Zions Bancorporation, N.A. in the first quarter valued at approximately $40,000. 76.84% of the stock is owned by institutional investors.

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.