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

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “hold” rating reiterated by equities research analysts 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 price target points to a potential upside of 6.88% from the company’s previous close.

Several other research analysts also recently commented on the company. UBS Group initiated coverage on Zions Bancorporation, N.A. in a report on Monday, September 14th. They set a “buy” rating and a $78.00 price objective on the stock. Cantor Fitzgerald lowered their target price on Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Stephens dropped their price target on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Wells Fargo & Company raised their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Truist Financial cut their price target on Zions Bancorporation, N.A. from $72.00 to $67.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.65.

Zions Bancorporation, N.A. Trading Up 2.2%

Zions Bancorporation, N.A. stock traded up $1.42 during trading hours on Tuesday, hitting $64.56. The company had a trading volume of 1,746,242 shares, compared to its average volume of 1,650,483. The firm has a market cap of $9.42 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.04 and a beta of 0.84. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. Zions Bancorporation, N.A. has a 1 year low of $48.50 and a 1 year high of $73.34. The company has a 50-day moving average price of $66.22 and a two-hundred day moving average price of $65.64.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its 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. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The business had revenue of $887.00 million for the quarter, compared to analyst estimates of $889.52 million. During the same period last year, the company posted $1.48 earnings per share. On average, sell-side 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 approved a share repurchase program on Thursday, July 30th that allows the company to repurchase $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.

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

In other news, EVP Scott Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total value of $333,711.36. Following the transaction, the executive vice president directly owned 32,890 shares in the company, valued at approximately $2,381,893.80. This trade represents a 12.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Derek Steward sold 894 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 88,787 shares of company stock valued at $6,283,858. 1.43% of the stock is currently owned by corporate insiders.

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

A number of large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at $87,961,000. Deutsche Bank AG acquired a new stake in Zions Bancorporation, N.A. in the second quarter valued at about $71,767,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth $4,933,000. Amundi lifted its position in shares of Zions Bancorporation, N.A. by 415.2% during the 2nd quarter. Amundi now owns 189,013 shares of the bank’s stock valued at $13,078,000 after acquiring an additional 152,328 shares during the period. Finally, BlackRock Inc. purchased a new position in Zions Bancorporation, N.A. in the second quarter valued at about $982,244,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. News Roundup

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

• Positive Sentiment: Q3 earnings beat estimates: Zions reported diluted EPS of $1.78, up from $1.48 a year earlier and above the $1.64 consensus estimate. Net earnings applicable to common shareholders rose to $262 million from $221 million. Zions Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Credit trends improved: Net loan and lease charge-offs fell to $3 million from $56 million year over year, while the provision for credit losses was an $8 million benefit compared with a $49 million expense in the prior-year quarter. Deposits increased 4% to $77.9 billion, loans rose 4% to $62.5 billion, and the estimated common equity tier 1 ratio improved to 11.8%. Zions Posts Third Quarter Net Earnings
• Positive Sentiment: DA Davidson raised its price target to $80 from $79 and maintained a “buy” rating, implying substantial potential upside from recent trading levels. DA Davidson analyst action
• Neutral Sentiment: Analyst views remain divided: TD Cowen reiterated “hold” with a $69 target, while RBC maintained “sector perform” and a $76 target. JPMorgan raised its target to $87 from $86 but retained an “underweight” rating, signaling caution despite the higher valuation target. Analyst price-target updates
• Negative Sentiment: Revenue slightly missed expectations: Quarterly revenue was approximately $887 million, below the roughly $890 million consensus estimate. Noninterest expense also increased 5% year over year to $553 million, which could limit operating leverage. Zions quarterly earnings report

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.