Cantor Fitzgerald Begins Coverage on Zions Bancorporation, N.A. (NASDAQ:ZION)

Equities research analysts at Cantor Fitzgerald initiated coverage on shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in a report released on Wednesday, Marketbeat reports. The firm set an “overweight” rating and a $64.00 price target on the bank’s stock. Cantor Fitzgerald’s target price points to a potential upside of 9.85% from the company’s current price.

ZION has been the topic of a number of other reports. Robert W. Baird boosted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $45.00 to $60.00 in a report on Tuesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their target price on shares of Zions Bancorporation, N.A. from $60.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Finally, DA Davidson boosted their target price on shares of Zions Bancorporation, N.A. from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.95.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock opened at $58.26 on Wednesday. The company’s 50-day moving average price is $55.26 and its 200-day moving average price is $50.47. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market cap of $8.60 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 1.51 and a beta of 0.97.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. During the same period in the previous year, the firm posted $1.28 EPS. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Large investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. purchased a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at about $224,000. Principal Financial Group Inc. boosted its position in Zions Bancorporation, N.A. by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank’s stock valued at $16,956,000 after buying an additional 1,561 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at about $3,383,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Zions Bancorporation, N.A. in the 1st quarter valued at about $1,261,000. Finally, Teacher Retirement System of Texas boosted its position in Zions Bancorporation, N.A. by 6.2% in the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank’s stock valued at $2,401,000 after buying an additional 2,821 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

About Zions Bancorporation, N.A.

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.