Zions Bancorporation, National Association’s (ZION) Neutral Rating Reiterated at Citigroup

Zions Bancorporation, National Association (NASDAQ:ZION)‘s stock had its “neutral” rating reiterated by equities research analysts at Citigroup in a research note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $37.00 price objective on the bank’s stock. Citigroup’s price target would suggest a potential upside of 3.41% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. StockNews.com assumed coverage on Zions Bancorporation, National Association in a research report on Thursday, October 5th. They issued a “sell” rating for the company. Piper Sandler cut their price target on shares of Zions Bancorporation, National Association from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, October 23rd. Truist Financial increased their price objective on shares of Zions Bancorporation, National Association from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. cut their target price on Zions Bancorporation, National Association from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, October 19th. Finally, Evercore ISI reduced their target price on Zions Bancorporation, National Association from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.95.

Zions Bancorporation, National Association Price Performance

Shares of ZION opened at $35.78 on Tuesday. The business’s fifty day moving average is $33.88 and its 200 day moving average is $32.31. Zions Bancorporation, National Association has a 12-month low of $18.26 and a 12-month high of $55.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.00. The stock has a market cap of $5.30 billion, a P/E ratio of 6.61, a P/E/G ratio of 7.59 and a beta of 1.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02. The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $764.26 million. Zions Bancorporation, National Association had a net margin of 18.94% and a return on equity of 17.72%. The business’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. Sell-side analysts anticipate that Zions Bancorporation, National Association will post 4.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several hedge funds have recently made changes to their positions in ZION. International Assets Investment Management LLC bought a new position in Zions Bancorporation, National Association in the 3rd quarter worth about $27,000. IFP Advisors Inc boosted its position in shares of Zions Bancorporation, National Association by 628.2% in the second quarter. IFP Advisors Inc now owns 954 shares of the bank’s stock valued at $53,000 after acquiring an additional 823 shares during the period. Penserra Capital Management LLC purchased a new position in Zions Bancorporation, National Association during the second quarter valued at approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Zions Bancorporation, National Association during the 1st quarter worth approximately $30,000. Finally, Spire Wealth Management purchased a new stake in Zions Bancorporation, National Association in the 1st quarter worth approximately $31,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.