Zions Bancorporation, National Association (NASDAQ:ZION) Coverage Initiated at Jefferies Financial Group

Equities researchers at Jefferies Financial Group started coverage on shares of Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) in a research note issued on Wednesday,Benzinga reports. The brokerage set an "underperform" rating and a $40.00 price target on the bank's stock. Jefferies Financial Group's target price indicates a potential downside of 17.75% from the company's previous close.

A number of other brokerages have also recently issued reports on ZION. Royal Bank of Canada decreased their price objective on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Stephens lowered their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Robert W. Baird lowered their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $57.94.

Zions Bancorporation, National Association Stock Down 0.9%

NASDAQ ZION opened at $48.63 on Wednesday. The stock has a market capitalization of $7.18 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $46.54 and a 200-day moving average of $52.83.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. During the same period in the prior year, the firm posted $0.96 earnings per share. On average, equities research analysts forecast that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its board has approved a stock buyback program on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after acquiring an additional 183 shares during the period. CIBC Asset Management Inc grew its position in shares of Zions Bancorporation, National Association by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after acquiring an additional 224 shares during the period. Blackhawk Capital Partners LLC. boosted its position in Zions Bancorporation, National Association by 5.3% during the first quarter. Blackhawk Capital Partners LLC. now owns 4,885 shares of the bank's stock worth $244,000 after acquiring an additional 245 shares during the last quarter. Leo Wealth LLC boosted its stake in Zions Bancorporation, National Association by 1.7% during the first quarter. Leo Wealth LLC now owns 14,917 shares of the bank's stock worth $744,000 after buying an additional 253 shares during the period. Finally, Jackson Creek Investment Advisors LLC raised its position in Zions Bancorporation, National Association by 3.3% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock valued at $490,000 after purchasing an additional 285 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.