Zions Bancorporation, National Association (NASDAQ:ZION) is among the top losers of the stock market today, sinking -2.54% or (-1.18 points) to $45.26 from its previous close of $46.44. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1294527 contracts so far this session. ZION shares had a relatively better volume day versus average trading capacity of 2.22 million shares, but with a 0.18 billion float and a -4.66% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ZION stock indicates that the average analyst price target is $54.67 per share. This means the stock has a potential increase of 20.79% from where the ZION share price has been trading recently which is between $45.92 and $47.03. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $49.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “You Have To Love Zions Bancorporation, National Association’s (NASDAQ:ZION) Dividend” and dated May 13, 2019.
During the recent trading session for Zions Bancorporation, National Association (NASDAQ:ZION), the company witnessed their stock drop by $-2.92 over a week and tumble down $-2.99 from the price 20 days ago. When compared to their established 52-week high of $59.19, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/22/18. The recent low of $38.08 stood for a -23.53% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.49 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Zions Bancorporation, National Association, the two-week RSI stands at 34.2. This figure suggests that ZION stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ZION readings is similarly very revealing as it has a stochastic reading of 8.15% at this stage. This figure means that ZION share price today is being overbought.
Technical chart claims that Zions Bancorporation, National Association (ZION) would settle between $47.01/share to $47.57/share level. However, if the stock price goes below the $45.9 mark, then the market for Zions Bancorporation, National Association becomes much weaker. If that happens, the stock price might even plunge as low as $45.35 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.98. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan lowered their recommendation on shares of ZION from Overweight to Neutral in their opinion released on April 04. Argus, analysts launched coverage of Zions Bancorporation, National Association (NASDAQ:ZION) stock with a Buy recommendation, according to their flash note issued to investors on December 17. Analysts at Piper Jaffray released an upgrade from Neutral to Overweight for the stock, in a research note that dated back to November 07.
ZION equity has an average rating of 2.04, with the figure leaning towards a bullish end. 26 analysts who tracked the company were contacted by Reuters. Amongst them, 10 rated the stock as a hold while the remaining 16 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 16 analysts rated Zions Bancorporation, National Association (NASDAQ:ZION) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ZION stock price is currently trading at 9.69X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.87 while for the average stock in the same group, the multiple is 5.74. Zions Bancorporation, National Association current P/E ratio of 19.03 means it is trading at a premium against its industry’s 18.97. In the past 5 years, this ratio for the stock has been fluctuating between 17 and 22.75.
Zions Bancorporation, National Association (ZION)’s current-quarter revenues are projected to climb by nearly 5.62% to hit $724550, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 4.63% from $2.78 billion to a noteworthy $2.91 billion. At the other end of the current quarter income statement, Zions Bancorporation, National Association is expected to see its adjusted earnings surge by roughly 23.6% to hit $1.1 per share. For the fiscal year, ZION’s earnings are projected to climb by roughly 9.8% to hit $4.48 per share.