Stephens Issues Pessimistic Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) had its price objective lowered by Stephens from $82.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Stephens’ price objective points to a potential upside of 15.97% from the stock’s previous close.

A number of other analysts have also recently weighed in on ZION. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Robert W. Baird raised their price target on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald raised their target price on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley upped their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Citigroup raised their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $70.53.

Check Out Our Latest Stock Report on Zions Bancorporation, N.A.

Zions Bancorporation, N.A. Stock Down 4.0%

ZION stock traded down $2.91 during mid-day trading on Tuesday, hitting $68.98. 2,014,552 shares of the company were exchanged, compared to its average volume of 1,734,081. The company has a market capitalization of $10.15 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The firm has a fifty day simple moving average of $65.96 and a 200 day simple moving average of $61.92. 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 twelve month low of $46.19 and a twelve month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. The business had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period in the prior year, the firm earned $1.63 EPS. On average, research analysts forecast that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share buyback plan on Saturday, May 2nd that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the bank to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s 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 filing with the SEC, which can be accessed through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

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

A number of institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC raised its position in shares of Zions Bancorporation, N.A. by 528.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after purchasing an additional 349 shares during the last quarter. Torren Management LLC acquired a new position in Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Leonteq Securities AG purchased a new position in Zions Bancorporation, N.A. in the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $42,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Key Zions Bancorporation, N.A. News

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Zions Bancorporation, N.A. Company Profile

(Get Free Report)

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.

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