Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Has Consensus Target Price of $72.59

Zions Bancorporation, N.A. (NASDAQ:ZION) has earned a consensus rating of “Hold” from the nineteen analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $72.59.

A number of analysts have issued reports on ZION shares. JPMorgan Chase & Co. boosted their price objective on shares of Zions Bancorporation, N.A. from $86.00 to $87.00 and gave the company an “underweight” rating in a report 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 on the stock in a report on Tuesday, July 21st. Morgan Stanley dropped their price target on shares of Zions Bancorporation, N.A. from $78.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday. UBS Group started coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, September 14th. They issued a “buy” rating and a $78.00 price target for the company. Finally, TD Cowen reiterated a “hold” rating and issued a $69.00 price target on shares of Zions Bancorporation, N.A. in a research note on Tuesday.

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

In other news, EVP Scott Law sold 4,608 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the sale, the executive vice president directly owned 32,890 shares in the company, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their position. The transaction 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 company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the sale, the executive vice president 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 SEC filing for this sale provides additional information. Insiders sold 88,787 shares of company stock valued at $6,283,858 in the last three months. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Zions Bancorporation, N.A. during the second quarter worth about $982,244,000. Dimensional Fund Advisors LP increased its holdings in Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after buying an additional 56,438 shares during the period. First Trust Advisors LP increased its holdings in Zions Bancorporation, N.A. by 28.5% in the 1st quarter. First Trust Advisors LP now owns 1,917,826 shares of the bank’s stock valued at $110,505,000 after buying an additional 425,325 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at approximately $87,961,000. Finally, Quantinno Capital Management LP raised its position in shares of Zions Bancorporation, N.A. by 50.1% in the 1st quarter. Quantinno Capital Management LP now owns 1,242,578 shares of the bank’s stock valued at $71,597,000 after buying an additional 414,902 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Key Stories Impacting 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. Trading Up 2.3%

Shares of Zions Bancorporation, N.A. stock opened at $64.59 on Wednesday. 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 firm has a 50-day moving average of $66.09 and a 200-day moving average of $65.68. Zions Bancorporation, N.A. has a 52-week low of $48.50 and a 52-week high of $73.34. The stock has a market cap of $9.43 billion, a PE ratio of 7.93, a PEG ratio of 1.04 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released 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. Zions Bancorporation, N.A. had a net margin of 24.81% and a return on equity of 13.91%. 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 firm earned $1.48 earnings per share. As a group, sell-side analysts forecast that Zions Bancorporation, N.A. will post 6.60 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.48 per share. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 3.0%. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

Zions Bancorporation, N.A. declared that its board has approved a share buyback program on Thursday, July 30th that authorizes the company to buy back $75.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.