Zions Bancorporation, N.A. (NASDAQ:ZION) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Zions Bancorporation, N.A. (NASDAQ:ZION) from a hold rating to a sell rating in a research report report published on Saturday.

Several other research firms have also recently issued reports on ZION. Wells Fargo & Company reduced their price objective on shares of Zions Bancorporation, N.A. from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial started coverage on shares of Zions Bancorporation, N.A. in a research report on Tuesday, May 13th. They set a “hold” rating and a $52.00 price objective on the stock. Stephens reduced their price objective on shares of Zions Bancorporation, N.A. from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Citigroup lifted 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 report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Zions Bancorporation, N.A. from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to 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 $55.16 on Friday. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.81 and a beta of 0.90. The company’s 50 day moving average is $48.73 and its two-hundred day moving average is $50.67. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

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

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.12%. The ex-dividend date was Thursday, May 15th. Zions Bancorporation, N.A.’s payout ratio is 33.59%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZION. Fisher Asset Management LLC purchased a new position in Zions Bancorporation, N.A. during the fourth quarter worth $389,000. Smartleaf Asset Management LLC boosted its stake in Zions Bancorporation, N.A. by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,241 shares of the bank’s stock worth $122,000 after buying an additional 368 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Zions Bancorporation, N.A. by 120.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Zions Bancorporation, N.A. by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 6,666 shares of the bank’s stock valued at $362,000 after purchasing an additional 1,226 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Zions Bancorporation, N.A. by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 151,515 shares of the bank’s stock valued at $8,220,000 after purchasing an additional 864 shares during the period. 76.84% of the stock is owned by hedge funds and other 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.