Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Keeps “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 note issued to investors on Tuesday, Benzinga reports. They currently have a $69.00 price objective on the bank’s stock. TD Cowen’s target price points to a potential upside of 6.89% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Zions Bancorporation, N.A. from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, September 28th. Wells Fargo & Company lifted their target price on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald cut their price target on Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. JPMorgan Chase & Co. reduced their price target on Zions Bancorporation, N.A. from $75.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, October 1st. Finally, Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective on the stock. in a report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus target price of $72.59.

Zions Bancorporation, N.A. Price Performance

ZION stock traded up $1.42 during trading on Tuesday, hitting $64.56. The stock had a trading volume of 2,289,032 shares, compared to its average volume of 1,653,069. The company’s 50 day moving average price is $66.22 and its two-hundred day moving average price is $65.64. Zions Bancorporation, N.A. has a 1-year low of $48.50 and a 1-year high of $73.34. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84.

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

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

Insider Transactions at Zions Bancorporation, N.A.

In related news, President Scott Mclean sold 33,285 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the sale, the president directly owned 73,043 shares in the company, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Derek Steward sold 894 shares of the business’s stock in a transaction that occurred 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 directly owned 17,449 shares in the company, valued at $1,215,322.85. This trade 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 valued at $6,283,858 over the last quarter. Company insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Large investors have recently added to or reduced their stakes in the company. Burns Matteson Capital Management LLC acquired a new stake in Zions Bancorporation, N.A. during the third quarter valued at approximately $522,000. Pension & Wealth Management Advisors Inc. bought a new position in Zions Bancorporation, N.A. during the third quarter worth $27,000. Essex LLC lifted its stake in Zions Bancorporation, N.A. by 7.0% during the third quarter. Essex LLC now owns 5,415 shares of the bank’s stock worth $339,000 after purchasing an additional 355 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in Zions Bancorporation, N.A. in the third quarter worth $1,027,000. Finally, Fragasso Financial Advisors Inc acquired a new position in Zions Bancorporation, N.A. in the third quarter worth $375,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Key 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.

About Zions Bancorporation, N.A.

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.