Zions Bancorporation, N.A.’s (ZION) “Hold” Rating Reaffirmed at TD Cowen

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “hold” rating reissued by equities researchers at TD Cowen in a report issued on Tuesday, Benzinga reports. They presently have a $69.00 price target on the bank’s stock. TD Cowen‘s target price suggests a potential upside of 6.83% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Truist Financial dropped their price target on shares of Zions Bancorporation, N.A. from $72.00 to $67.00 and set a “hold” rating for the company in a research note on Friday, October 9th. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Thursday, October 15th. JPMorgan Chase & Co. dropped their price target on shares of Zions Bancorporation, N.A. from $75.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, October 1st. DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Stephens dropped 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 research note on Tuesday, July 21st. Seven 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’s stock. According to MarketBeat, Zions Bancorporation, N.A. has a consensus rating of “Hold” and an average target price of $72.59.

Zions Bancorporation, N.A. Stock Up 2.3%

ZION stock traded up $1.45 during trading on Tuesday, reaching $64.59. The stock had a trading volume of 3,388,847 shares, compared to its average volume of 1,658,960. Zions Bancorporation, N.A. has a 1-year low of $48.50 and a 1-year high of $73.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.43 billion, a P/E ratio of 8.23, a PEG ratio of 1.04 and a beta of 0.84. The firm has a fifty day moving average price of $66.22 and a 200 day moving average price of $65.64.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. The business had revenue of $887.00 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $1.48 earnings per share. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 6.60 earnings per share for the current year.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a share buyback program on Thursday, July 30th that allows the company to buy back $75.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 0.7% of its shares through open market purchases. Share repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were 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 trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott A. Law sold 4,608 shares of the firm’s stock in a transaction dated 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 88,787 shares of company stock valued at $6,283,858 over the last quarter. Insiders own 1.43% of the company’s stock.

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

Large investors have recently bought and sold shares of the business. Pension & Wealth Management Advisors Inc. bought a new position in shares of Zions Bancorporation, N.A. in the third quarter worth $27,000. Elevation Wealth Partners LLC grew its stake in shares of Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Zions Bancorporation, N.A. in the second quarter worth $35,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Zions Bancorporation, N.A. in the second quarter worth $45,000. Finally, Burnham & Co LLC bought a new position in shares of Zions Bancorporation, N.A. in the second quarter worth $55,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. News Summary

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.