Zions Bancorporation, National Association (NASDAQ:ZION) Coverage Initiated by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group started coverage on shares of Zions Bancorporation, National Association (NASDAQ:ZION) in a report released on Wednesday,Benzinga reports. The firm set an “underperform” rating and a $40.00 price target on the bank’s stock. Jefferies Financial Group’s price target would indicate a potential downside of 17.75% from the company’s previous close.

ZION has been the topic of a number of other research reports. Stephens dropped their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of Zions Bancorporation, National Association from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Robert W. Baird cut their price target on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, Barclays upped their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.94.

Zions Bancorporation, National Association Trading Down 0.9%

Shares of ZION opened at $48.63 on Wednesday. The business’s 50-day moving average price is $46.54 and its 200 day moving average price is $52.83. The stock has a market capitalization of $7.18 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.61 and a beta of 0.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 1-year low of $39.32 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The business had revenue of $795.00 million for the quarter, compared to the consensus estimate of $792.49 million. During the same quarter last year, the company posted $0.96 earnings per share. Analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversify Wealth Management LLC acquired a new position in Zions Bancorporation, National Association in the fourth quarter valued at $201,000. Atomi Financial Group Inc. raised its stake in shares of Zions Bancorporation, National Association by 9.7% in the fourth quarter. Atomi Financial Group Inc. now owns 6,026 shares of the bank’s stock valued at $327,000 after buying an additional 534 shares during the period. SG Americas Securities LLC grew its stake in Zions Bancorporation, National Association by 244.8% in the 4th quarter. SG Americas Securities LLC now owns 28,405 shares of the bank’s stock valued at $1,541,000 after buying an additional 20,167 shares in the last quarter. Impact Partnership Wealth LLC lifted its holdings in shares of Zions Bancorporation, National Association by 7.3% in the fourth quarter. Impact Partnership Wealth LLC now owns 6,117 shares of the bank’s stock worth $332,000 after buying an additional 415 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Zions Bancorporation, National Association by 42.0% during the fourth quarter. Blue Trust Inc. now owns 12,727 shares of the bank’s stock worth $690,000 after buying an additional 3,765 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, National Association 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.