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

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

Other equities analysts also recently issued research reports about the company. DA Davidson boosted their target price on Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Piper Sandler decreased their target price on Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Zions Bancorporation, N.A. from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald started coverage on shares of Zions Bancorporation, N.A. in a research report on Wednesday, September 10th. They set an “overweight” rating and a $64.00 price target for the company. Finally, Morgan Stanley boosted their target price on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.62.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $51.69 on Thursday. The stock’s fifty day simple moving average is $55.82 and its two-hundred day simple moving average is $51.64. The stock has a market cap of $7.63 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.93. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. 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 announced its 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 company had revenue of $705.00 million during the quarter. As a group, analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZION. GAMMA Investing LLC grew its stake in Zions Bancorporation, N.A. by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 11,049 shares of the bank’s stock valued at $551,000 after buying an additional 1,535 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 61.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 70,936 shares of the bank’s stock worth $3,537,000 after acquiring an additional 27,001 shares during the period. State of Alaska Department of Revenue lifted its holdings in Zions Bancorporation, N.A. by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 17,318 shares of the bank’s stock worth $863,000 after purchasing an additional 470 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Zions Bancorporation, N.A. by 1.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 162,628 shares of the bank’s stock worth $8,109,000 after purchasing an additional 2,132 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Zions Bancorporation, N.A. during the 1st quarter worth about $224,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

About Zions Bancorporation, N.A.

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.