Zions Bancorporation, N.A. (NASDAQ:ZION) Now Covered by Stephens

Equities research analysts at Stephens started coverage on shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in a research report issued to clients and investors on Monday. The firm set an “overweight” rating on the bank’s stock.

A number of other brokerages also recently weighed in on ZION. TD Cowen boosted their price target on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price target on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Truist Financial boosted their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st. Finally, Citigroup boosted their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. has a consensus rating of “Hold” and a consensus target price of $65.53.

Zions Bancorporation, N.A. Stock Down 0.5%

ZION stock traded down $0.36 during midday trading on Monday, hitting $66.89. 458,396 shares of the company’s stock were exchanged, compared to its average volume of 1,713,670. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $67.99. The firm has a 50 day moving average price of $61.98 and a 200-day moving average price of $59.71. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The company had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same period in the previous year, the business earned $1.13 EPS. On average, analysts anticipate that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. declared that its board has initiated a stock buyback program on Saturday, May 2nd that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several hedge funds have recently modified their holdings of the company. Torren Management LLC purchased a new stake in Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $32,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $36,000. Community Bank N.A. purchased a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth about $36,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at approximately $42,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.