Zions Bancorporation, N.A. (NASDAQ:ZION) Given Hold Rating at TD Cowen

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

ZION has been the subject of several other research reports. Piper Sandler decreased their price objective on Zions Bancorporation, N.A. from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Truist Financial decreased their price objective on Zions Bancorporation, N.A. from $72.00 to $67.00 and set a “hold” rating for the company in a report on Friday, October 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $76.00 price objective on shares of Zions Bancorporation, N.A. in a report on Tuesday. Stephens decreased their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.59.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $1.45 during mid-day trading on Tuesday, reaching $64.59. The company had a trading volume of 3,388,847 shares, compared to its average volume of 1,658,960. 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 firm has a market cap of $9.43 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 1.04 and a beta of 0.84. The company’s 50-day moving average price is $66.22 and its 200-day moving average price is $65.64. Zions Bancorporation, N.A. has a one year low of $48.50 and a one year high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 19th. The bank reported $1.78 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $1.48 EPS. As a group, equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.60 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its board has authorized a share buyback program on Thursday, July 30th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, 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 completion of the sale, the executive vice president owned 17,449 shares in the company, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Scott Mclean sold 33,285 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. The trade was a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 88,787 shares of company stock worth $6,283,858 in the last quarter. 1.43% of the stock is owned by insiders.

Institutional Trading of Zions Bancorporation, N.A.

Several hedge funds and other institutional investors have recently bought and sold shares of ZION. Pension & Wealth Management Advisors Inc. bought a new stake in Zions Bancorporation, N.A. in the third quarter valued at approximately $27,000. Elevation Wealth Partners LLC lifted its position in Zions Bancorporation, N.A. by 528.8% in the second 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. Trust Co. of Vermont bought a new stake in Zions Bancorporation, N.A. in the second quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $45,000. Finally, Burnham & Co LLC bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $55,000. Institutional investors own 76.84% of the company’s stock.

Trending Headlines about Zions Bancorporation, N.A.

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

• Positive Sentiment: Adjusted earnings beat expectations. Zions reported third-quarter EPS of $1.78, up from $1.48 a year earlier and ahead of the $1.64 consensus estimate. Net income attributable to common shareholders rose to $262 million from $221 million. Zions Third Quarter Financial Results
• Positive Sentiment: Credit quality improved significantly. Net loan and lease charge-offs fell to $3 million from $56 million in the prior-year quarter, while the provision for credit losses was an $8 million benefit versus a $49 million expense previously. Loans increased 4% year over year to $62.5 billion, and deposits rose 4% to $77.9 billion. Zions Third Quarter Net Earnings
• Positive Sentiment: DA Davidson raised its price target to $80 and reiterated a Buy rating, implying substantial potential upside based on the supplied reference price.
• Neutral Sentiment: Analyst opinion remains divided. RBC maintained Sector Perform with a $76 target, while TD Cowen reiterated Hold with a $69 target. JPMorgan raised its target to $87 but kept an Underweight rating, highlighting that a higher valuation target does not necessarily signal a bullish view.
• Negative Sentiment: Revenue was slightly below expectations. Reported revenue was approximately $881 million to $887 million, compared with consensus near $889.5 million. Noninterest expense also increased 5% year over year to $553 million. Morgan Stanley lowered its target to $77 and maintained an Underweight rating.

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.