Zions Bancorporation NA (NASDAQ:ZION) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Zions Bancorporation NA (NASDAQ:ZION) from a buy rating to a hold rating in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. They currently have $46.00 price target on the bank’s stock, down from their previous price target of $51.00. Jefferies Financial Group also issued estimates for Zions Bancorporation NA’s Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.12 EPS, FY2019 earnings at $4.26 EPS, Q1 2020 earnings at $1.02 EPS, Q2 2020 earnings at $1.09 EPS, Q3 2020 earnings at $1.14 EPS, Q4 2020 earnings at $1.15 EPS, Q1 2021 earnings at $1.03 EPS, Q2 2021 earnings at $1.12 EPS, Q3 2021 earnings at $1.18 EPS and FY2021 earnings at $4.50 EPS.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut Zions Bancorporation NA from a buy rating to a hold rating and set a $46.00 target price on the stock. in a research report on Thursday, June 27th. BidaskClub raised Zions Bancorporation NA from a sell rating to a hold rating in a research report on Saturday, September 14th. ValuEngine raised Zions Bancorporation NA from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Barclays cut their price objective on Zions Bancorporation NA from $60.00 to $56.00 and set an overweight rating on the stock in a research report on Tuesday, July 23rd. Finally, SunTrust Banks cut their price objective on Zions Bancorporation NA from $52.00 to $50.00 and set a buy rating on the stock in a research report on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $51.19.

Shares of NASDAQ:ZION opened at $44.09 on Tuesday. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.34 and a beta of 1.55. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.18. Zions Bancorporation NA has a 12-month low of $38.08 and a 12-month high of $51.81. The business’s 50 day moving average is $42.67 and its 200 day moving average is $44.66.

Zions Bancorporation NA (NASDAQ:ZION) last announced its earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.10). The company had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $723.21 million. Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. During the same period in the previous year, the firm earned $0.89 EPS. As a group, equities research analysts expect that Zions Bancorporation NA will post 4.2 earnings per share for the current year.

In other Zions Bancorporation NA news, insider A Scott Anderson sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $44.92, for a total value of $449,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Thomas E. Laursen sold 957 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.75, for a total value of $38,997.75. The disclosure for this sale can be found here. In the last three months, insiders sold 20,886 shares of company stock worth $936,691. Insiders own 1.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Zions Bancorporation NA by 11.8% during the 2nd quarter. BlackRock Inc. now owns 14,036,257 shares of the bank’s stock valued at $645,387,000 after buying an additional 1,477,302 shares during the last quarter. Invesco Ltd. lifted its position in shares of Zions Bancorporation NA by 19.9% during the 2nd quarter. Invesco Ltd. now owns 11,559,438 shares of the bank’s stock valued at $531,503,000 after buying an additional 1,919,673 shares during the last quarter. LSV Asset Management lifted its position in shares of Zions Bancorporation NA by 4.0% during the 2nd quarter. LSV Asset Management now owns 5,357,695 shares of the bank’s stock valued at $246,346,000 after buying an additional 204,356 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Zions Bancorporation NA by 386.2% during the 2nd quarter. Victory Capital Management Inc. now owns 4,040,695 shares of the bank’s stock valued at $185,790,000 after buying an additional 3,209,650 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Zions Bancorporation NA by 42.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,258,511 shares of the bank’s stock valued at $149,826,000 after buying an additional 971,840 shares during the last quarter. 95.83% of the stock is currently owned by institutional investors and hedge funds.

About Zions Bancorporation NA

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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Analyst Recommendations for Zions Bancorporation NA (NASDAQ:ZION)

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