Zions Bancorporation, N.A.’s (ZION) Sector Perform Rating Reiterated at Royal Bank Of Canada

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $76.00 target price on the bank’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 17.77% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Cantor Fitzgerald reduced 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 report on Wednesday, October 14th. Stephens reduced 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 report on Tuesday, July 21st. UBS Group initiated coverage on shares of Zions Bancorporation, N.A. in a report on Monday, September 14th. They issued a “buy” rating and a $78.00 price target for the company. Evercore downgraded shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a report on Thursday, July 23rd. Finally, TD Cowen reduced their price target on shares of Zions Bancorporation, N.A. from $73.00 to $69.00 and set a “hold” rating for the company in a report on Monday, October 5th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.65.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION traded up $1.39 during trading hours on Tuesday, hitting $64.53. 935,478 shares of the stock were exchanged, compared to its average volume of 1,645,777. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50 day moving average is $66.22 and its 200 day moving average is $65.64. The firm has a market capitalization of $9.42 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.04 and a beta of 0.84. 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 issued its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, beating 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 firm had revenue of $887.00 million during the quarter, compared to the consensus estimate of $889.52 million. During the same period in the prior year, the firm earned $1.48 EPS. On average, research analysts expect that Zions Bancorporation, N.A. will post 6.60 EPS for the current year.

Zions Bancorporation, N.A. declared that its board has approved a share repurchase program on Thursday, July 30th that allows the company to repurchase $75.00 million in shares. This buyback authorization allows the bank to purchase up to 0.7% of its stock through open market purchases. Share buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other news, President Scott J. Mclean sold 33,285 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total transaction 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 trade represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derek Steward sold 894 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the transaction, the executive vice president directly owned 17,449 shares of the company’s stock, valued at $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 three months, insiders sold 88,787 shares of company stock valued at $6,283,858. Company insiders own 1.43% of the company’s stock.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Elevation Wealth Partners LLC lifted its holdings in shares of Zions Bancorporation, N.A. by 528.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after acquiring an additional 349 shares during the period. Pension & Wealth Management Advisors Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 3rd quarter worth about $27,000. Trust Co. of Vermont bought a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $35,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $45,000. Finally, Burnham & Co LLC bought a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $55,000. 76.84% of the stock is owned by institutional investors.

Key Zions Bancorporation, N.A. News

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.