Weiss Ratings Downgrades Zions Bancorporation, N.A. (NASDAQ:ZION) to Hold (C+)

Key Points

• Weiss Ratings downgraded Zions Bancorporation, N.A. from a "buy" rating to a "hold" rating as of Friday, indicating a shift in investment sentiment towards the stock.
• Multiple analysts have varying ratings on Zions Bancorporation, with two analysts rating it as Strong Buy and a consensus price target of $61.62.
• As of the latest trading session, Zions Bancorporation's stock price increased by $1.81 to $53.49, with a market cap of $7.90 billion and a P/E ratio of 9.58.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) was downgraded by equities research analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a research note issued on Friday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on ZION. Cantor Fitzgerald assumed coverage on shares of Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $64.00 price target on the stock. Baird R W raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 17th. Citigroup lifted their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, DA Davidson lifted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.62.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $1.81 during trading on Friday, hitting $53.49. 756,948 shares of the stock traded hands, compared to its average volume of 1,684,472. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.09 and a beta of 0.93. The company has a fifty day moving average price of $55.78 and a two-hundred day moving average price of $51.70. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. The firm had revenue of $705.00 million during the quarter. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Zions Bancorporation, N.A. by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 11,049 shares of the bank's stock valued at $551,000 after buying an additional 1,535 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Zions Bancorporation, N.A. by 61.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 70,936 shares of the bank's stock valued at $3,537,000 after buying an additional 27,001 shares during the period. State of Alaska Department of Revenue raised its holdings in Zions Bancorporation, N.A. by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 17,318 shares of the bank's stock valued at $863,000 after buying an additional 470 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at about $224,000. Finally, Bessemer Group Inc. raised its holdings in Zions Bancorporation, N.A. by 76.3% in the 1st quarter. Bessemer Group Inc. now owns 11,637 shares of the bank's stock valued at $581,000 after buying an additional 5,035 shares during the period. Hedge funds and other institutional investors 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.

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