Zions Bancorporation, N.A. (NASDAQ:ZION) Earns Hold Rating from Analysts at TD Cowen

Key Points

• TD Cowen has initiated coverage of Zions Bancorporation, N.A. with a "hold" rating and a price target of $64.00, suggesting a potential upside of 12.46% from the current stock price.
• Analyst ratings reveal a consensus of "hold" for Zions Bancorporation, with one strong buy, four buy, fourteen hold, and one sell rating assigned.
• Zions Bancorporation reported a $1.58 EPS for the last quarter, exceeding estimates, and had revenue of $838 million, surpassing analysts’ projections of $810.24 million.

Research analysts at TD Cowen assumed coverage on shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) in a research note issued on Thursday,Briefing.com Automated Import reports. The firm set a "hold" rating and a $64.00 price target on the bank's stock. TD Cowen's price objective would indicate a potential upside of 12.46% from the stock's current price.

ZION has been the subject of several other research reports. Morgan Stanley lifted their price target on Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Royal Bank Of Canada lifted their price target on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Robert W. Baird lifted their price target on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, DA Davidson lifted their price target on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $61.10.

Zions Bancorporation, N.A. Trading Down 0.7%

Zions Bancorporation, N.A. stock opened at $56.91 on Thursday. The stock has a market cap of $8.40 billion, a PE ratio of 10.40, a P/E/G ratio of 1.49 and a beta of 0.97. The stock has a 50-day moving average price of $55.63 and a 200 day moving average price of $50.80. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

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. The firm had revenue of $838.00 million during the quarter, compared to analysts' expectations 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. Equities research analysts predict 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.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Zions Bancorporation, N.A. by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank's stock worth $1,002,875,000 after acquiring an additional 582,392 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Zions Bancorporation, N.A. by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock worth $351,027,000 after acquiring an additional 233,252 shares in the last quarter. LSV Asset Management lifted its position in Zions Bancorporation, N.A. by 4.5% during the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank's stock worth $205,689,000 after acquiring an additional 169,085 shares in the last quarter. AQR Capital Management LLC lifted its position in Zions Bancorporation, N.A. by 326.4% during the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock worth $139,927,000 after acquiring an additional 2,194,514 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Zions Bancorporation, N.A. by 9.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,834,949 shares of the bank's stock worth $147,247,000 after acquiring an additional 240,329 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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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