Zions Bancorporation, N.A. (NASDAQ:ZION) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• Zions Bancorporation, N.A. received a "Buy (B-)" rating from Weiss Ratings, reaffirming investor confidence in the stock.
• Multiple analysts have recently raised their target prices for Zions, with an average target now at $61.45 and a consensus rating of "Hold."
• The bank's latest quarterly earnings reported an EPS of $1.58, surpassing expectations and reflecting strong revenue growth of $838 million.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on the company. Cantor Fitzgerald started coverage on Zions Bancorporation, N.A. in a report on Wednesday, September 10th. They issued an "overweight" rating and a $64.00 target price on the stock. Citigroup lifted their price objective on 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. Evercore ISI lifted their price objective on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Jefferies Financial Group raised Zions Bancorporation, N.A. from an "underperform" rating to a "hold" rating and boosted their target price for the company from $45.00 to $60.00 in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and an average target price of $61.45.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock traded up $0.37 during mid-day trading on Wednesday, reaching $57.08. 371,490 shares of the company were exchanged, compared to its average volume of 1,572,603. The company has a fifty day simple moving average of $55.78 and a 200-day simple moving average of $51.35. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. 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 firm has a market cap of $8.43 billion, a PE ratio of 10.45, a PEG ratio of 1.48 and a beta of 0.93.

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

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

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Zions Bancorporation, N.A. by 3.1% in the second quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank's stock valued at $1,002,875,000 after purchasing an additional 582,392 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Zions Bancorporation, N.A. by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock valued at $351,027,000 after purchasing an additional 233,252 shares during the last quarter. LSV Asset Management lifted its stake in Zions Bancorporation, N.A. by 4.5% in the second quarter. LSV Asset Management now owns 3,960,132 shares of the bank's stock valued at $205,689,000 after purchasing an additional 169,085 shares during the last quarter. AQR Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 326.4% in the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock valued at $139,927,000 after purchasing an additional 2,194,514 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Zions Bancorporation, N.A. by 9.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,834,949 shares of the bank's stock valued at $147,247,000 after purchasing an additional 240,329 shares during the last quarter. 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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