Zions Bancorporation National Association [ZION] stock Downgrade by JP Morgan analyst, price target now $46

Zions Bancorporation National Association [NASDAQ: ZION] closed the trading session at $29.97 on 03/13/23. The day’s price range saw the stock hit a low of $22.55, while the highest price level was $37.25. The company report on March 3, 2023 that Zions Bancorporation to Present at the RBC Capital Markets Global Financial Institutions Conference.

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Harris Simmons, Chairman and CEO of Zions Bancorporation (NASDAQ: ZION), will make a presentation at the RBC Capital Markets Global Financial Institutions Conference, Wednesday, March 8 at 8:40 am ET. A live webcast of the session may be accessed on the Zions Bancorporation website, zionsbancorporation.com. The webcast will also be archived and available on the website for 30 days.

Zions Bancorporation, N.A. is one of the nation’s premier financial services companies with 2022 net revenue of $3.2 billion and approximately $90 billion in total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.

The stocks have a year to date performance of -39.04 percent and weekly performance of -38.54 percent. The stock has been moved at -48.92 percent over the last six months. The stock has performed -43.07 percent around the most recent 30 days and changed -36.75 percent over the most recent 3-months.

If compared to the average trading volume of 1.63M shares, ZION reached to a volume of 26064954 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Zions Bancorporation National Association [ZION]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZION shares is $57.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZION stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Zions Bancorporation National Association shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 25, 2023. While these analysts kept the previous recommendation, Barclays dropped their target price from $68 to $59. The new note on the price target was released on January 03, 2023, representing the official price target for Zions Bancorporation National Association stock. Previously, the target price had yet another raise to $56, while DA Davidson analysts kept a Buy rating on ZION stock.

The Average True Range (ATR) for Zions Bancorporation National Association is set at 3.27, with the Price to Sales ratio for ZION stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 39.50. Price to Free Cash Flow for ZION in the course of the last twelve months was 4.52.

ZION stock trade performance evaluation

Zions Bancorporation National Association [ZION] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -38.54. With this latest performance, ZION shares dropped by -43.07% in over the last four-week period, additionally sinking by -48.92% over the last 6 months – not to mention a drop of -53.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZION stock in for the last two-week period is set at 11.11, with the RSI for the last a single of trading hit 6.52, and the three-weeks RSI is set at 16.26 for Zions Bancorporation National Association [ZION]. The present Moving Average for the last 50 days of trading for this stock 50.25, while it was recorded at 40.96 for the last single week of trading, and 52.09 for the last 200 days.

Zions Bancorporation National Association [ZION]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Zions Bancorporation National Association [ZION] shares currently have an operating margin of +34.70. Zions Bancorporation National Association’s Net Margin is presently recorded at +27.08.

Return on Equity for this stock inclined to 14.55, with Return on Assets sitting at 0.98.

Zions Bancorporation National Association [ZION]: Insider Ownership positions

There are presently around $3,831 million, or 85.20% of ZION stock, in the hands of institutional investors. The top three institutional holders of ZION stocks are: VANGUARD GROUP INC with ownership of 21,079,668, which is approximately 5.695% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 9,879,868 shares of the stock with an approximate value of $296.1 million in ZION stocks shares; and VICTORY CAPITAL MANAGEMENT INC, currently with $230.36 million in ZION stock with ownership of nearly -0.241% of the company’s market capitalization.

Positions in Zions Bancorporation National Association stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 242 institutional holders increased their position in Zions Bancorporation National Association [NASDAQ:ZION] by around 12,258,534 shares. Additionally, 251 investors decreased positions by around 10,718,097 shares, while 67 investors held positions by with 104,859,945 shares. The mentioned changes placed institutional holdings at 127,836,576 shares, according to the latest SEC report filing. ZION stock had 71 new institutional investments in for a total of 3,097,810 shares, while 57 institutional investors sold positions of 2,150,083 shares during the same period.


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