Zions Bancorporation, National Association (NASDAQ:ZION) Rating Lowered to Sell at Wall Street Zen

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada reduced their price target on Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 22nd. Barclays lifted their price target on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the company an "underweight" rating in a research report on Wednesday, January 22nd. Wells Fargo & Company reduced their price target on Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Truist Financial initiated coverage on Zions Bancorporation, National Association in a research report on Tuesday, May 13th. They issued a "hold" rating and a $52.00 price target for the company. Finally, Morgan Stanley reduced their price target on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock traded up $0.28 during mid-day trading on Thursday, reaching $46.92. 348,541 shares of the company's stock were exchanged, compared to its average volume of 1,574,965. The business's fifty day simple moving average is $46.50 and its 200 day simple moving average is $52.79. The firm has a market capitalization of $6.92 billion, a PE ratio of 9.48, a P/E/G ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a one year low of $39.32 and a one year high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same period last year, the business posted $0.96 earnings per share. On average, sell-side analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of large investors have recently modified their holdings of the company. Diversify Wealth Management LLC bought a new stake in shares of Zions Bancorporation, National Association in the 4th quarter valued at about $201,000. Atomi Financial Group Inc. lifted its stake in shares of Zions Bancorporation, National Association by 9.7% in the 4th quarter. Atomi Financial Group Inc. now owns 6,026 shares of the bank's stock valued at $327,000 after acquiring an additional 534 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Zions Bancorporation, National Association by 244.8% in the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank's stock valued at $1,541,000 after acquiring an additional 20,167 shares during the last quarter. Impact Partnership Wealth LLC lifted its stake in shares of Zions Bancorporation, National Association by 7.3% in the 4th quarter. Impact Partnership Wealth LLC now owns 6,117 shares of the bank's stock valued at $332,000 after acquiring an additional 415 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Zions Bancorporation, National Association by 42.0% in the 4th quarter. Blue Trust Inc. now owns 12,727 shares of the bank's stock valued at $690,000 after acquiring an additional 3,765 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

About Zions Bancorporation, National Association

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.