Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Lowered by JPMorgan Chase & Co.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Tuesday. They currently have a $75.00 target price on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 4.33% from the company’s current price.

Other analysts have also issued research reports about the company. Citigroup boosted their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Barclays boosted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Piper Sandler lowered their target price on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Finally, TD Cowen lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.53.

Check Out Our Latest Report on Zions Bancorporation, N.A.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION opened at $71.89 on Tuesday. The business’s 50-day simple moving average is $65.96 and its two-hundred day simple moving average is $61.92. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34. The stock has a market cap of $10.57 billion, a PE ratio of 11.18, a P/E/G ratio of 1.73 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last released its earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. The business had revenue of $878.00 million for the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter last year, the firm posted $1.63 earnings per share. As a group, analysts forecast that Zions Bancorporation, N.A. will post 6.49 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a stock repurchase program on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC boosted its position in Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares during the period. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 4th quarter worth about $32,000. Leonteq Securities AG bought a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $36,000. Finally, V Square Quantitative Management LLC bought a new position in Zions Bancorporation, N.A. during the fourth quarter valued at about $42,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Zions Bancorporation, N.A.

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Zions Bancorporation, N.A. Company Profile

(Get Free Report)

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle?market firms and high?net?worth clients. Its service portfolio includes deposit accounts, cash?management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.

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Analyst Recommendations for Zions Bancorporation, N.A. (NASDAQ:ZION)

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