Jefferies Financial Group Begins Coverage on Zions Bancorporation, National Association (NASDAQ:ZION)

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Zions Bancorporation, National Association (NASDAQ:ZION) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set an “underperform” rating and a $40.00 price target on the bank’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 14.82% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on ZION. Truist Financial started coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, May 13th. They issued a “hold” rating and a $52.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 22nd. Argus raised shares of Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens lowered their target price on shares of Zions Bancorporation, National Association from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.94.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $46.96 on Wednesday. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.61 and a beta of 0.88. Zions Bancorporation, National Association has a 12 month low of $39.32 and a 12 month high of $63.22. The firm’s 50 day simple moving average is $46.46 and its 200-day simple moving average is $52.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $792.49 million. During the same quarter last year, the company earned $0.96 EPS. Analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Zions Bancorporation, National Association

Several institutional investors and hedge funds have recently bought and sold shares of ZION. AQR Capital Management LLC raised its holdings in Zions Bancorporation, National Association by 326.4% in the 1st quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank’s stock valued at $139,927,000 after buying an additional 2,194,514 shares during the period. Norges Bank purchased a new stake in Zions Bancorporation, National Association in the 4th quarter valued at about $73,542,000. Balyasny Asset Management L.P. raised its holdings in Zions Bancorporation, National Association by 249.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock valued at $88,130,000 after buying an additional 1,159,888 shares during the period. Freestone Grove Partners LP purchased a new stake in Zions Bancorporation, National Association in the 4th quarter valued at about $51,116,000. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Zions Bancorporation, National Association by 57.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,133,336 shares of the bank’s stock valued at $106,368,000 after buying an additional 778,861 shares during the period. 76.84% of the stock is currently owned by hedge funds and other 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.