Zions Bancorporation, N.A. (NASDAQ:ZION) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has initiated coverage on Zions Bancorporation, N.A. with an "overweight" rating and a price target of $64.00, indicating a potential upside of 11.58% from the stock's previous close.
• The stock currently has an average rating of "Hold" among analysts, with five analysts rating it as a Buy and a consensus price target of $60.95.
• Zions Bancorporation recently reported an earnings per share (EPS) of $1.58 for the last quarter, surpassing analysts' expectations of $1.31 and showcasing a notable revenue increase to $838.00 million.

Cantor Fitzgerald initiated coverage on shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The firm set an "overweight" rating and a $64.00 price target on the bank's stock. Cantor Fitzgerald's price objective suggests a potential upside of 9.55% from the company's current price.

ZION has been the subject of a number of other research reports. 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 report on Wednesday, July 2nd. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $45.00 to $60.00 in a research note on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Robert W. Baird lifted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Zions Bancorporation, N.A. currently has an average rating of "Hold" and a consensus target price of $60.95.

Zions Bancorporation, N.A. Stock Up 0.3%

NASDAQ ZION traded up $0.16 during mid-day trading on Wednesday, reaching $58.42. The stock had a trading volume of 1,343,024 shares, compared to its average volume of 1,251,049. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22. The stock has a market cap of $8.62 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company has a fifty day moving average price of $55.33 and a 200 day moving average price of $50.50. 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 announced its quarterly earnings data on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, topping 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 analyst estimates of $810.24 million. During the same period in the previous year, the business earned $1.28 EPS. On average, research analysts expect 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.

Hedge funds and other institutional investors have recently modified their holdings of the business. Curat Global LLC purchased a new stake in Zions Bancorporation, N.A. during the first quarter valued at approximately $25,000. Picton Mahoney Asset Management purchased a new stake in Zions Bancorporation, N.A. during the first quarter valued at approximately $25,000. Traub Capital Management LLC purchased a new stake in Zions Bancorporation, N.A. during the second quarter valued at approximately $31,000. Assetmark Inc. lifted its position in Zions Bancorporation, N.A. by 75.3% during 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 purchased a new position in shares of Zions Bancorporation, N.A. in the first quarter worth $40,000. 76.84% of the stock is currently 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.