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

Key Points

• Evercore ISI raised its price target for Zions Bancorporation, N.A. from $62.00 to $64.00, indicating a potential upside of 14.75% from the previous close.
• The bank's stock has received various ratings from analysts, with one Strong Buy, four Buy, and fourteen Hold ratings, reflecting mixed sentiment in the market.
• Zions reported an earnings per share (EPS) of $1.58 for the last quarter, surpassing analysts' expectations of $1.31, along with a revenue of $838 million compared to an expected $810 million.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) had its price objective hoisted by investment analysts at Evercore ISI from $62.00 to $64.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Evercore ISI's price target points to a potential upside of 14.75% from the stock's previous close.

ZION has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on 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. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their target price for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Citigroup lifted 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. Royal Bank Of Canada raised their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Finally, Truist Financial increased their price target on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. 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 stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $61.45.

Zions Bancorporation, N.A. Stock Down 2.1%

ZION traded down $1.23 during trading on Tuesday, hitting $55.78. The company had a trading volume of 820,028 shares, compared to its average volume of 1,581,495. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average of $55.67 and a 200-day moving average of $51.05. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a market cap of $8.23 billion, a PE ratio of 10.18, a P/E/G ratio of 1.50 and a beta of 0.97.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, July 21st. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.27. The company had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.During the same quarter last year, the business posted $1.28 EPS. As a group, analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

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

Several large investors have recently made changes to their positions in ZION. Picton Mahoney Asset Management bought a new position in Zions Bancorporation, N.A. in the 1st quarter worth approximately $25,000. Curat Global LLC acquired a new position in Zions Bancorporation, N.A. in the 1st quarter valued at approximately $25,000. Traub Capital Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $31,000. Assetmark Inc. lifted its position in Zions Bancorporation, N.A. by 75.3% in the second quarter. Assetmark Inc. now owns 673 shares of the bank's stock worth $35,000 after purchasing an additional 289 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 76.84% of the company's stock.

About Zions Bancorporation, N.A.

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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