Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Lowered by Zacks Research

Key Points

• Zions Bancorporation, N.A. has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, indicating a cautious outlook for the stock.
• Multiple analysts have adjusted their price targets for ZION, with prices ranging from $62 to $70, reflecting varied perspectives on the company's performance.
• The bank reported earnings of $1.58 EPS for the last quarter, exceeding analyst expectations and demonstrating strong revenue growth compared to previous year.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on ZION. 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 note on Tuesday, July 22nd. Morgan Stanley boosted their target price on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an "equal weight" rating in a research note on Monday. Royal Bank Of Canada boosted their target price on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Evercore ISI boosted their target price on Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Robert W. Baird upped their price objective on 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of "Hold" and a consensus target price of $61.45.

Zions Bancorporation, N.A. Price Performance

ZION traded down $0.44 during trading on Tuesday, hitting $56.04. The company's stock had a trading volume of 62,905 shares, compared to its average volume of 1,575,637. The firm's 50 day moving average price is $55.66 and its two-hundred day moving average price is $51.13. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93.

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, beating the consensus estimate of $1.31 by $0.27. The company 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 period last year, the firm earned $1.28 EPS. Sell-side analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of large investors have recently modified their holdings of ZION. Curat Global LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $25,000. Picton Mahoney Asset Management acquired a new stake in shares of Zions Bancorporation, N.A. in the 1st quarter valued at $25,000. Traub Capital Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at $31,000. Assetmark Inc. boosted its holdings in shares of Zions Bancorporation, N.A. by 75.3% in the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank's stock valued at $35,000 after purchasing an additional 289 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of 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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