Zions Bancorporation NA (NASDAQ:ZION) Downgraded by DA Davidson to Neutral

Zions Bancorporation NA (NASDAQ:ZION) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports.

Other equities research analysts have also recently issued reports about the stock. Bank of America upped their target price on shares of Zions Bancorporation NA from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Jefferies Financial Group cut shares of Zions Bancorporation NA from a “buy” rating to a “hold” rating and dropped their target price for the company from $51.00 to $46.00 in a report on Tuesday, October 8th. ValuEngine raised shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Zions Bancorporation NA in a report on Friday, August 16th. Finally, Morgan Stanley upped their target price on shares of Zions Bancorporation NA from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $51.00.

NASDAQ ZION traded up $0.03 on Thursday, reaching $51.07. The company had a trading volume of 3,922,300 shares, compared to its average volume of 2,337,391. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day moving average is $45.81 and its 200-day moving average is $44.76. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.57. Zions Bancorporation NA has a 1-year low of $38.08 and a 1-year high of $51.81.

Zions Bancorporation NA (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.09. The company had revenue of $713.00 million for the quarter, compared to analysts’ expectations of $709.29 million. Zions Bancorporation NA had a net margin of 26.50% and a return on equity of 12.27%. During the same period in the prior year, the firm earned $1.04 EPS. On average, research analysts forecast that Zions Bancorporation NA will post 4.28 earnings per share for the current year.

In other Zions Bancorporation NA news, EVP Keith D. Maio sold 5,720 shares of the 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. Also, COO Scott J. Mclean sold 44,706 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.07, for a total transaction of $2,283,135.42. Over the last three months, insiders sold 69,354 shares of company stock worth $3,477,438. Insiders own 1.70% of the company’s stock.

Several large investors have recently made changes to their positions in ZION. Douglas Lane & Associates LLC grew its position in shares of Zions Bancorporation NA by 4.8% during the 2nd quarter. Douglas Lane & Associates LLC now owns 245,188 shares of the bank’s stock worth $11,274,000 after purchasing an additional 11,129 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Zions Bancorporation NA by 48.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock worth $41,000 after acquiring an additional 295 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Zions Bancorporation NA during the 2nd quarter worth approximately $427,000. Handelsbanken Fonder AB boosted its position in shares of Zions Bancorporation NA by 15.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 230,000 shares of the bank’s stock worth $10,575,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Zions Bancorporation NA by 20.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 67,636 shares of the bank’s stock worth $3,110,000 after acquiring an additional 11,644 shares in the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

About Zions Bancorporation NA

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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