JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $86.00 to $87.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 34.37% from the stock’s previous close.

ZION has been the subject of several other research reports. Cantor Fitzgerald lowered their price target on shares of Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Evercore lowered shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective on the stock. in a report on Thursday, July 23rd. DA Davidson raised their price objective on shares of Zions Bancorporation, N.A. from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens lowered their target price on shares of 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, Piper Sandler lowered their target price on shares of 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. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.65.

Zions Bancorporation, N.A. Trading Up 2.5%

ZION stock traded up $1.61 during midday trading on Tuesday, reaching $64.75. The stock had a trading volume of 453,245 shares, compared to its average volume of 1,643,908. The business has a fifty day simple moving average of $66.22 and a two-hundred day simple moving average of $65.64. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.04 and a beta of 0.84. Zions Bancorporation, N.A. has a twelve month low of $48.50 and a twelve month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.14. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%. The firm had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $889.52 million. During the same period in the previous year, the business posted $1.48 EPS. As a group, research analysts expect that Zions Bancorporation, N.A. will post 6.60 EPS for the current fiscal year.

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

Insider Activity at Zions Bancorporation, N.A.

In related news, President Scott Mclean sold 33,285 shares of the company’s stock in a transaction 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 transaction, the president directly owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 88,787 shares of company stock valued at $6,283,858. 1.43% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

A number of institutional investors have recently modified their holdings of ZION. Burns Matteson Capital Management LLC bought a new position in shares of Zions Bancorporation, N.A. during the third quarter worth about $522,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at approximately $27,000. Essex LLC raised its position in Zions Bancorporation, N.A. by 7.0% in the 3rd quarter. Essex LLC now owns 5,415 shares of the bank’s stock valued at $339,000 after buying an additional 355 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at approximately $1,027,000. Finally, Fragasso Financial Advisors Inc bought a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at approximately $375,000. 76.84% of the stock is currently owned by institutional investors.

Trending Headlines about Zions Bancorporation, N.A.

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

• Positive Sentiment: EPS beat estimates: Diluted earnings per share rose to $1.78 from $1.48 a year earlier, exceeding the $1.64 consensus estimate by $0.14. Net income applicable to common shareholders increased to $262 million from $221 million. Zions Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Credit trends improved sharply: Zions recorded an $8 million provision benefit, compared with a $49 million provision expense in the prior-year quarter. Net loan charge-offs fell to $3 million from $56 million, supporting profitability and reducing investor concerns about credit losses. Zions Third Quarter Financial Results
• Positive Sentiment: Balance-sheet growth remained healthy: Net interest income increased 2% year over year to $684 million, loans rose 4% to $62.5 billion, and deposits grew 4% to $77.9 billion. The estimated common equity Tier 1 ratio improved to 11.8% from 11.3%, indicating stronger capital protection. Zions Posts Third Quarter Net Earnings
• Neutral Sentiment: Revenue was mixed: Reported revenue was approximately $881 million to $887 million, modestly below the roughly $889.5 million analyst estimate. Noninterest income increased to $197 million, but noninterest expense also rose 5% to $553 million. Zions Bancorporation Q3 Earnings and Revenue

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.