Zions Bancorporation, N.A. (NASDAQ:ZION) Cut to Hold (C+) at Weiss Ratings

Weiss Ratings downgraded shares of Zions Bancorporation, N.A. (NASDAQ:ZION) from a buy (b-) rating to a hold (c+) rating in a report released on Friday morning,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company boosted their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Cantor Fitzgerald started coverage on Zions Bancorporation, N.A. in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $64.00 target price on the stock. Morgan Stanley boosted their target price on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Piper Sandler lowered their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.62.

Zions Bancorporation, N.A. Stock Performance

Shares of Zions Bancorporation, N.A. stock opened at $53.12 on Friday. The firm’s fifty day simple moving average is $55.78 and its 200-day simple moving average is $51.89. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.88 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. The firm had revenue of $705.00 million during the quarter. As a group, equities analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, August 14th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

A number of large investors have recently made changes to their positions in ZION. Vanguard Group Inc. grew its holdings in shares of Zions Bancorporation, N.A. by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock worth $1,002,875,000 after acquiring an additional 582,392 shares during the period. Dimensional Fund Advisors LP boosted its position in Zions Bancorporation, N.A. by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank’s stock worth $351,027,000 after purchasing an additional 233,252 shares in the last quarter. LSV Asset Management grew its holdings in Zions Bancorporation, N.A. by 4.5% in the second quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock valued at $205,689,000 after purchasing an additional 169,085 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Zions Bancorporation, N.A. by 14.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock valued at $183,546,000 after purchasing an additional 409,065 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 326.4% in the first 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 in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. 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.