Zions Bancorporation NA (NASDAQ:ZION) Cut to “Underperform” at Robert W. Baird

Zions Bancorporation NA (NASDAQ:ZION) was downgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

A number of other research analysts also recently issued reports on ZION. BMO Capital Markets upped their price objective on Zions Bancorporation NA from $45.00 to $48.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Raymond James raised their target price on Zions Bancorporation NA from $49.00 to $55.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 22nd. BidaskClub upgraded Zions Bancorporation NA from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America boosted their price target on shares of Zions Bancorporation NA from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Piper Jaffray Companies reduced their price target on shares of Zions Bancorporation NA from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.00.

Shares of ZION stock opened at $49.50 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a 50-day moving average of $48.65 and a 200-day moving average of $44.91. Zions Bancorporation NA has a one year low of $38.08 and a one year high of $51.81. The company has a market cap of $8.49 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.65 and a beta of 1.58.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.09. Zions Bancorporation NA had a net margin of 26.50% and a return on equity of 12.27%. The business had revenue of $713.00 million for the quarter, compared to analysts’ expectations of $709.29 million. During the same period in the previous year, the company earned $1.04 earnings per share. As a group, research analysts expect that Zions Bancorporation NA will post 4.29 earnings per share for the current fiscal year.

In other news, VP Randy R. Stewart sold 4,269 shares of Zions Bancorporation NA stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $50.95, for a total value of $217,505.55. Also, EVP Keith D. Maio sold 5,720 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $49.38, for a total transaction of $282,453.60. Insiders have sold a total of 72,666 shares of company stock worth $3,655,946 in the last ninety days. Insiders own 1.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its position in shares of Zions Bancorporation NA by 3.8% during the second quarter. Meeder Asset Management Inc. now owns 17,062 shares of the bank’s stock worth $784,000 after acquiring an additional 622 shares in the last quarter. Crestline Management LP bought a new stake in shares of Zions Bancorporation NA during the 2nd quarter valued at $1,090,000. Calamos Wealth Management LLC raised its stake in shares of Zions Bancorporation NA by 2.7% during the 2nd quarter. Calamos Wealth Management LLC now owns 132,872 shares of the bank’s stock valued at $6,109,000 after purchasing an additional 3,466 shares during the period. Strs Ohio lifted its holdings in Zions Bancorporation NA by 5.9% during the 3rd quarter. Strs Ohio now owns 27,297 shares of the bank’s stock worth $1,215,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Zions Bancorporation NA by 327.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 977,708 shares of the bank’s stock worth $43,528,000 after purchasing an additional 749,108 shares in the last quarter. Institutional investors own 96.10% 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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