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 reaffirmed by research analysts at Royal Bank Of Canada in a report issued on Tuesday, Benzinga reports. They currently have a $76.00 price target on the bank’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 17.64% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Piper Sandler reduced their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. UBS Group assumed coverage on Zions Bancorporation, N.A. in a report on Monday, September 14th. They set a “buy” rating and a $78.00 price target on the stock. Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective for the company. in a research report on Thursday, July 23rd. Finally, Cantor Fitzgerald cut their price target 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. Seven 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.59.

Zions Bancorporation, N.A. Trading Up 2.3%

Shares of NASDAQ:ZION traded up $1.46 during mid-day trading on Tuesday, hitting $64.60. The stock had a trading volume of 2,539,031 shares, compared to its average volume of 1,653,453. The company’s 50 day moving average is $66.22 and its 200-day moving average is $65.64. Zions Bancorporation, N.A. has a 12-month low of $48.50 and a 12-month high of $73.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $9.43 billion, a PE ratio of 8.23, a P/E/G ratio of 1.04 and a beta of 0.84.

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 the consensus estimate of $1.64 by $0.14. The business had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $889.52 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%. During the same quarter last year, the firm posted $1.48 earnings per share. On average, sell-side analysts predict that Zions Bancorporation, N.A. will post 6.60 EPS for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a stock buyback program on Thursday, July 30th that permits the company to buy back $75.00 million in shares. This buyback authorization permits the bank to repurchase up to 0.7% of its shares through open market purchases. Share buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

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 completion of the sale, the executive vice president owned 17,449 shares in the company, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the transaction, the president owned 73,043 shares in the company, valued at $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 88,787 shares of company stock worth $6,283,858. Insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in shares of Zions Bancorporation, N.A. by 5.2% during the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock worth $182,000 after buying an additional 157 shares during the period. Allworth Financial LP increased its stake in Zions Bancorporation, N.A. by 5.7% in the 2nd quarter. Allworth Financial LP now owns 2,978 shares of the bank’s stock valued at $206,000 after buying an additional 161 shares during the last quarter. Modern Wealth Management LLC boosted its stake in shares of Zions Bancorporation, N.A. by 4.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock worth $272,000 after buying an additional 209 shares during the last quarter. Arizona State Retirement System grew its stake in Zions Bancorporation, N.A. by 0.6% in the second quarter. Arizona State Retirement System now owns 40,807 shares of the bank’s stock valued at $2,823,000 after purchasing an additional 254 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Zions Bancorporation, N.A. by 19.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,633 shares of the bank’s stock valued at $113,000 after buying an additional 263 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

More Zions Bancorporation, N.A. News

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.

About Zions Bancorporation, N.A.

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.