Zions Bancorporation, N.A. (NASDAQ:ZION) Lowered to “Sell” Rating by Wall Street Zen

Zions Bancorporation, N.A. (NASDAQ:ZION) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

ZION has been the subject of several other research reports. Citigroup raised their price target on Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank Of Canada cut their price target on Zions Bancorporation, N.A. from $63.00 to $53.00 and set a “sector perform” rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group started coverage on Zions Bancorporation, N.A. in a report on Wednesday, May 21st. They set an “underperform” rating and a $40.00 price target for the company. Argus raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Monday, April 28th. Finally, Robert W. Baird cut their price target on Zions Bancorporation, N.A. from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.22.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION opened at $54.87 on Friday. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $63.22. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $48.53 and a 200 day simple moving average of $50.69. The stock has a market capitalization of $8.10 billion, a PE ratio of 10.72, a P/E/G ratio of 1.81 and a beta of 0.90.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $792.49 million. During the same period last year, the business earned $0.96 earnings per share. On average, research analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Curat Global LLC acquired a new position in shares of Zions Bancorporation, N.A. in the first quarter valued at approximately $25,000. Picton Mahoney Asset Management acquired a new position in shares of Zions Bancorporation, N.A. in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Zions Bancorporation, N.A. by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after buying an additional 183 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Zions Bancorporation, N.A. in the first quarter valued at approximately $40,000. Finally, Covestor Ltd increased its stake in shares of Zions Bancorporation, N.A. by 128.1% in the fourth quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares during the period. 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.