Zions Bancorporation, N.A. (NASDAQ:ZION – Free Report) had its target price lifted by Stephens from $75.00 to $78.00 in a research note published on Monday morning,Benzinga reports. Stephens currently has an overweight rating on the bank’s stock.
A number of other research analysts also recently commented on the company. Wells Fargo & Company increased their target price on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Piper Sandler boosted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Zions Bancorporation, N.A. from $86.00 to $87.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 20th. Finally, Evercore downgraded shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price on the stock. in a report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.44.
View Our Latest Stock Report on ZION
Zions Bancorporation, N.A. Price Performance
NASDAQ:ZION opened at $65.41 on Monday. The business’s 50-day moving average is $65.44 and its 200 day moving average is $63.74. Zions Bancorporation, N.A. has a 12 month low of $48.50 and a 12 month high of $73.34. The company has a market capitalization of $9.55 billion, a P/E ratio of 8.03, a P/E/G ratio of 1.04 and a beta of 0.84. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32.
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last released its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.14. Zions Bancorporation, N.A. had a return on equity of 13.77% and a net margin of 24.81%. The business had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $889.52 million. During the same quarter last year, the business posted $1.48 EPS. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.67 earnings per share for the current fiscal year.
Zions Bancorporation, N.A. declared that its Board of Directors has approved a share buyback program on Thursday, July 30th that authorizes the company to repurchase $75 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Insider Activity at Zions Bancorporation, N.A.
In related news, President Scott J. Mclean sold 33,285 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott A. 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 transaction of $333,711.36. Following the transaction, the executive vice president directly owned 32,890 shares of the company’s stock, valued at $2,381,893.80. The trade was a 12.29% 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 have sold 87,893 shares of company stock worth $6,221,591. Corporate insiders own 1.43% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of ZION. BlackRock Inc. bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $982,244,000. Bank of New York Mellon Corp bought a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $87,961,000. Deutsche Bank AG bought a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $71,767,000. The Manufacturers Life Insurance Company bought a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $54,688,000. Finally, Azora Capital LP purchased a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at $52,233,000. Institutional investors own 76.84% of the company’s stock.
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.
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