Zions Bancorporation, N.A. (NASDAQ:ZION) Earns Neutral Rating from Robert W. Baird

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report)‘s stock had its “neutral” rating reiterated by Robert W. Baird in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $68.00 price target on the bank’s stock. Robert W. Baird’s price target points to a potential upside of 1.31% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. TD Cowen raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Morgan Stanley lowered their target price on shares of Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, Piper Sandler cut their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.35.

Read Our Latest Analysis on ZION

Zions Bancorporation, N.A. Trading Up 1.4%

Shares of ZION stock opened at $67.12 on Tuesday. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $67.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.19 and a beta of 0.81. The stock has a 50-day moving average of $62.81 and a 200-day moving average of $60.25.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The company had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current year.

Zions Bancorporation, N.A. announced that its board has authorized a stock repurchase plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $105,700,000. Balyasny Asset Management L.P. increased its position in Zions Bancorporation, N.A. by 1,270.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock valued at $67,145,000 after buying an additional 1,063,303 shares in the last quarter. AQR Capital Management LLC raised its stake in Zions Bancorporation, N.A. by 31.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after buying an additional 711,218 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $32,008,000. Finally, FIL Ltd boosted its holdings in Zions Bancorporation, N.A. by 117.6% in the fourth quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after acquiring an additional 601,610 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Company Profile

(Get Free Report)

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.

Recommended Stories

Analyst Recommendations for Zions Bancorporation, N.A. (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorporation N.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation N.A. and related companies with MarketBeat.com's FREE daily email newsletter.