Zions Bancorporation NA (NASDAQ:ZION) Rating Lowered to Sell at BidaskClub

Zions Bancorporation NA (NASDAQ:ZION) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other brokerages have also recently weighed in on ZION. Keefe, Bruyette & Woods cut shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $53.00 to $47.00 in a research report on Tuesday, July 23rd. BMO Capital Markets reduced their price target on shares of Zions Bancorporation NA to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. Bank of America lifted their price target on shares of Zions Bancorporation NA from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. SunTrust Banks reduced their price target on shares of Zions Bancorporation NA to $52.00 and set a “reduce” rating on the stock in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Wells Fargo & Co cut shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $62.00 to $50.00 in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $52.56.

Shares of NASDAQ ZION opened at $39.20 on Wednesday. The company’s fifty day moving average is $44.27 and its 200-day moving average is $46.54. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.21 and a beta of 1.49. Zions Bancorporation NA has a twelve month low of $38.08 and a twelve month high of $54.76. 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 (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate of $723.21 million. Zions Bancorporation NA had a return on equity of 12.26% and a net margin of 26.99%. During the same period in the prior year, the business earned $0.89 earnings per share. On average, research analysts anticipate that Zions Bancorporation NA will post 4.25 EPS for the current fiscal year.

In related news, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $44.92, for a total transaction of $449,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James R. Abbott sold 1,988 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $45.83, for a total transaction of $91,110.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,615 shares of company stock worth $1,197,961. 1.70% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of ZION. Victory Capital Management Inc. raised its holdings in shares of Zions Bancorporation NA by 386.2% during the second quarter. Victory Capital Management Inc. now owns 4,040,695 shares of the bank’s stock worth $185,790,000 after acquiring an additional 3,209,650 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Zions Bancorporation NA by 54,145.4% during the second quarter. Nuveen Asset Management LLC now owns 2,425,310 shares of the bank’s stock worth $111,516,000 after acquiring an additional 2,420,839 shares during the period. LSV Asset Management raised its holdings in shares of Zions Bancorporation NA by 86.9% during the first quarter. LSV Asset Management now owns 5,153,339 shares of the bank’s stock worth $234,013,000 after acquiring an additional 2,395,500 shares during the period. Invesco Ltd. raised its holdings in shares of Zions Bancorporation NA by 19.9% during the second quarter. Invesco Ltd. now owns 11,559,438 shares of the bank’s stock worth $531,503,000 after acquiring an additional 1,919,673 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Zions Bancorporation NA by 11.8% during the second quarter. BlackRock Inc. now owns 14,036,257 shares of the bank’s stock worth $645,387,000 after acquiring an additional 1,477,302 shares during the period. Institutional investors and hedge funds own 95.25% of the company’s stock.

Zions Bancorporation NA Company Profile

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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