Zions Bancorporation, N.A. (NASDAQ:ZION) Upgraded at Bank of America

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a $62.00 price objective on the bank’s stock. Bank of America‘s price target indicates a potential upside of 19.95% from the stock’s previous close.

ZION has been the topic of a number of other reports. Citigroup upped their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Wall Street Zen raised Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Truist Financial raised their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Cantor Fitzgerald initiated coverage on Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They set an “overweight” rating and a $64.00 target price for the company. Finally, DA Davidson increased their price target on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.62.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $51.69 on Thursday. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.93. The business has a 50-day moving average of $55.82 and a 200-day moving average of $51.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. The business had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. As a group, equities research analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of ZION. Picton Mahoney Asset Management acquired a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at $25,000. Traub Capital Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at $31,000. Assetmark Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 75.3% in the second quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after buying an additional 289 shares in the last quarter. Steph & Co. acquired a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $37,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $37,000. 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.