Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Upgraded by Bank of America

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat reports. The brokerage presently has a $62.00 price target on the bank’s stock, up from their prior price target of $59.00. Bank of America‘s price objective suggests a potential upside of 16.72% from the company’s previous close.

A number of other analysts have also commented on ZION. Evercore ISI lifted their price target on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Truist Financial lifted their price target on shares of 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. TD Cowen assumed coverage on shares of Zions Bancorporation, N.A. in a research report on Thursday, September 25th. They set a “hold” rating and a $64.00 target price for the company. Zacks Research lowered shares of Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Citigroup boosted their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of “Hold” and an average price target of $61.62.

Zions Bancorporation, N.A. Stock Up 2.8%

Shares of Zions Bancorporation, N.A. stock opened at $53.12 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $7.84 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $63.22. The company has a 50-day simple moving average of $55.78 and a two-hundred day simple moving average of $51.78.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. The firm had revenue of $705.00 million during the quarter. On average, analysts anticipate that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in shares of Zions Bancorporation, N.A. in the first quarter worth approximately $25,000. Traub Capital Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the second quarter worth $31,000. Salomon & Ludwin LLC purchased a new position in shares of Zions Bancorporation, N.A. in the third quarter worth $37,000. Steph & Co. purchased a new position in shares of Zions Bancorporation, N.A. in the third quarter worth $37,000. Finally, Assetmark Inc. lifted its holdings 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 worth $35,000 after buying an additional 289 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

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.