Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Target Cut by Morgan Stanley

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective dropped by equities researchers at Morgan Stanley from $78.00 to $77.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Morgan Stanley’s target price would suggest a potential upside of 19.16% from the company’s current price.

Several other research analysts have also commented on the company. UBS Group initiated coverage on Zions Bancorporation, N.A. in a research report on Monday, September 14th. They set a “buy” rating and a $78.00 price target on the stock. Robert W. Baird upgraded Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Thursday, October 15th. DA Davidson increased their price objective on Zions Bancorporation, N.A. from $79.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank Of Canada restated a “sector perform” rating and set a $76.00 target price on shares of Zions Bancorporation, N.A. in a research report on Tuesday. Finally, Piper Sandler cut their target price on shares of Zions Bancorporation, N.A. from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.59.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION traded up $1.48 during midday trading on Tuesday, reaching $64.62. 1,884,754 shares of the stock were exchanged, compared to its average volume of 1,651,172. The business’s 50-day moving average price is $66.22 and its 200 day moving average price is $65.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. Zions Bancorporation, N.A. has a twelve month low of $48.50 and a twelve month high of $73.34. The company has a market capitalization 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 posted its earnings results on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.14. The business had revenue of $887.00 million during the quarter, compared to the consensus estimate of $889.52 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%. During the same period in the previous year, the business 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 of Directors has initiated a stock buyback plan on Thursday, July 30th that authorizes the company to buy back $75.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of the sale, the executive vice president directly owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, the executive vice president owned 32,890 shares in the company, valued at $2,381,893.80. This trade represents a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 88,787 shares of company stock valued at $6,283,858 in the last ninety days. Insiders own 1.43% of the company’s stock.

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

Hedge funds have recently modified their holdings of the stock. Burns Matteson Capital Management LLC acquired a new position in Zions Bancorporation, N.A. in the 3rd quarter valued at $522,000. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth $27,000. Essex LLC lifted its stake in shares of Zions Bancorporation, N.A. by 7.0% in the 3rd quarter. Essex LLC now owns 5,415 shares of the bank’s stock worth $339,000 after acquiring an additional 355 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Zions Bancorporation, N.A. in the third quarter valued at about $1,027,000. Finally, Fragasso Financial Advisors Inc purchased a new stake in shares of Zions Bancorporation, N.A. in the third quarter valued at about $375,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Zions Bancorporation, N.A.

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

• Positive Sentiment: Q3 earnings beat estimates: Zions reported net earnings applicable to common shareholders of $262 million, or $1.78 per diluted share, compared with $1.48 a year earlier and the $1.64 consensus estimate. Net interest income rose 2% year over year to $684 million, while deposits increased 4% to $77.9 billion. Zions third-quarter financial results
• Positive Sentiment: Credit quality improved substantially: Net loan and lease charge-offs fell to $3 million from $56 million a year earlier, and the provision for credit losses was an $8 million benefit versus a $49 million expense in the prior-year quarter. Loans grew 4% to $62.5 billion, and the estimated common equity tier 1 capital ratio improved to 11.8% from 11.3%. Zions net charge-offs report
• Positive Sentiment: Analyst support increased: DA Davidson raised its price target to $80 from $79 and maintained a “buy” rating, signaling confidence in Zions’ earnings and operating outlook. DA Davidson price-target update
• Neutral Sentiment: JPMorgan raised its price target to $87 from $86 but retained an “underweight” rating. TD Cowen maintained “hold” with a $69 target, while RBC kept a “sector perform” rating and a $76 target. The higher targets imply valuation upside, but the ratings indicate that some firms remain cautious. Analyst rating updates
• Negative Sentiment: Revenue slightly missed expectations: Quarterly revenue was reported at approximately $881 million to $887 million, below consensus estimates near $890 million. Noninterest expense also increased 5% year over year to $553 million, limiting the earnings upside.

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.