Zions Bancorporation, N.A. (NASDAQ:ZION) Given Hold Rating at TD Cowen

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “hold” rating reaffirmed by investment analysts at TD Cowen in a research report issued on Tuesday, Benzinga reports. They currently have a $69.00 price objective on the bank’s stock. TD Cowen’s price target points to a potential upside of 6.83% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Stephens reduced their price target on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Evercore downgraded shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a report on Thursday, July 23rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $76.00 target price on shares of Zions Bancorporation, N.A. in a research note on Tuesday. UBS Group assumed coverage on Zions Bancorporation, N.A. in a research report on Monday, September 14th. They issued a “buy” rating and a $78.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.59.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock traded up $1.45 during mid-day trading on Tuesday, reaching $64.59. The company had a trading volume of 3,388,836 shares, compared to its average volume of 1,656,399. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a 52 week low of $48.50 and a 52 week high of $73.34. The company has a 50 day moving average of $66.22 and a 200-day moving average of $65.64. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 1.04 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.14. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The firm had revenue of $887.00 million during the quarter, compared to the consensus estimate of $889.52 million. During the same period in the prior year, the firm earned $1.48 EPS. On average, sell-side analysts expect that Zions Bancorporation, N.A. will post 6.60 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has initiated a stock repurchase program on Thursday, July 30th that authorizes the company to repurchase $75.00 million in shares. This buyback authorization authorizes the bank to purchase up to 0.7% of its shares through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Scott Law sold 4,608 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares in the company, valued at $2,381,893.80. This represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Derek Steward sold 894 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the transaction, the executive vice president owned 17,449 shares of the company’s stock, valued at $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 88,787 shares of company stock worth $6,283,858 over the last three months. 1.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Pension & Wealth Management Advisors Inc. bought a new position in Zions Bancorporation, N.A. during the third quarter worth about $27,000. Elevation Wealth Partners LLC boosted its holdings in Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after buying an additional 349 shares during the last quarter. Trust Co. of Vermont bought a new position in Zions Bancorporation, N.A. during the second quarter worth about $35,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Zions Bancorporation, N.A. during the second quarter worth about $45,000. Finally, Burnham & Co LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the second quarter worth about $55,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

More Zions Bancorporation, N.A. News

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Third-quarter earnings exceeded expectations. Zions reported diluted EPS of $1.78, above the $1.64 consensus and up from $1.48 a year earlier. Net earnings applicable to common shareholders rose to $262 million. Zions Bancorporation Third Quarter Financial Results
• Positive Sentiment: Credit metrics improved substantially. Net charge-offs fell to $3 million from $56 million in the prior-year quarter, while Zions recorded an $8 million provision benefit versus a $49 million expense previously. This helped support profitability and reduced concerns about loan losses. Zions Third-Quarter Net Charge-Offs
• Positive Sentiment: Core banking trends remained constructive. Net interest income increased 2% year over year, deposits grew 4% to $77.9 billion and loans rose 4% to $62.5 billion. The estimated common equity tier 1 ratio also improved to 11.8% from 11.3%, indicating solid capital strength.
• Positive Sentiment: DA Davidson raised its price target to $80 and maintained a buy rating, signaling confidence that the earnings and credit trends can support further gains.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a regional financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides banking and related financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and industrial lending, commercial real estate financing, small-business banking, consumer loans, residential mortgages, deposit accounts, treasury management, investment services, and private banking.