NEW YORK (TheStreet) -- Shares of Zions Bancorporation (ZION - Get Report) closed up 1.75% to $24.41 on Thursday after Piper Jaffray boosted its rating on the stock to "overweight" from "neutral," the Fly reports.

The firm has a $29 price target on shares of the Salt Lake City-based bank holding company.

The higher rating is due to valuation as the firm believes low interest rates are priced in at current share levels, the Fly noted.

Additionally, Fig Partners initiated coverage of Zions stock with an "outperform" rating and $29 price target earlier today.

The company operates through: Zions First National Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado and the Commerce Bank of Oregon and Washington.

About 4.34 million of the company's shares changed hands today compared to its average 30-day volume of 3.77 million shares per day.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins.

But the team also finds weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: ZION