Zions Bancorporation, N.A. (NASDAQ:ZION) Coverage Initiated by Analysts at UBS Group

Analysts at UBS Group began coverage on shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in a research report issued on Monday. The brokerage set a “buy” rating and a $78.00 price target on the bank’s stock. UBS Group’s price objective points to a potential upside of 11.26% from the company’s current price.

Several other equities research analysts also recently weighed in on ZION. Stephens decreased their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Truist Financial boosted their target price on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a report on Friday, July 10th. Wells Fargo & Company increased their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Robert W. Baird boosted their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald raised their target price on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.53.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION traded up $1.36 on Monday, reaching $70.11. The stock had a trading volume of 58,346 shares, compared to its average volume of 1,647,177. The stock has a market cap of $10.23 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34. The business’s 50-day moving average price is $69.71 and its 200 day moving average price is $64.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $877.44 million. During the same period in the previous year, the company posted $1.63 EPS. The company’s quarterly revenue was up 35.7% on a year-over-year basis. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

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

Insider Activity at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the transaction, the executive vice president owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott Mclean sold 33,285 shares of the company’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 sale, the president directly owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 88,787 shares of company stock valued at $6,283,858 over the last 90 days. 1.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

Large investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC lifted its position in 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 last quarter. Leonteq Securities AG bought a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at approximately $32,000. Trust Co. of Vermont acquired a new stake in Zions Bancorporation, N.A. in the 2nd quarter valued at approximately $35,000. Atlas Capital Advisors Inc. bought a new position in Zions Bancorporation, N.A. in the 4th quarter worth approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Zions Bancorporation, N.A. during the second quarter worth approximately $45,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides a broad range of banking and related financial services to individuals, small and midsize businesses, commercial clients, and public-sector organizations.

The company’s services include commercial and consumer lending, deposits, home loans, cash management, treasury services, wealth management, investment services, and capital markets activities.