Royal Bank Of Canada Reaffirms Sector Perform Rating for Zions Bancorporation, N.A. (NASDAQ:ZION)

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $76.00 price objective on the bank’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 17.73% from the stock’s previous close.

Several other analysts have also issued reports on ZION. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Stephens lowered their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Truist Financial reduced their target price on Zions Bancorporation, N.A. from $72.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, October 9th. Wells Fargo & Company lifted their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley lifted their price target on Zions Bancorporation, N.A. from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, September 28th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.65.

Zions Bancorporation, N.A. Price Performance

ZION stock traded up $1.42 during midday trading on Tuesday, reaching $64.56. The company had a trading volume of 1,746,242 shares, compared to its average volume of 1,650,483. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. The stock has a 50 day moving average price of $66.22 and a 200-day moving average price of $65.64. Zions Bancorporation, N.A. has a 1-year low of $48.50 and a 1-year high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 19th. The bank reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. The firm had revenue of $887.00 million for the quarter, compared to the consensus estimate of $889.52 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. During the same period in the prior year, the company posted $1.48 earnings per share. Equities research analysts expect that Zions Bancorporation, N.A. will post 6.60 earnings per share for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 30th that authorizes the company to buy back $75.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 0.7% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In related news, EVP Scott A. Law sold 4,608 shares of the business’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 sale, the executive vice president owned 32,890 shares in the company, valued at $2,381,893.80. The trade was a 12.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the transaction, the executive vice president directly 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 position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 88,787 shares of company stock worth $6,283,858. Corporate insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Burns Matteson Capital Management LLC bought a new position in Zions Bancorporation, N.A. in the 3rd quarter valued at approximately $522,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $27,000. Essex LLC boosted its position in Zions Bancorporation, N.A. by 7.0% during the 3rd quarter. Essex LLC now owns 5,415 shares of the bank’s stock worth $339,000 after buying an additional 355 shares during the period. First Citizens Bank & Trust Co. bought a new stake in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $1,027,000. Finally, Fragasso Financial Advisors Inc bought a new stake in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $375,000. 76.84% of the stock is currently owned by institutional investors.

Trending Headlines about Zions Bancorporation, N.A.

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Q3 earnings beat estimates: Zions reported diluted EPS of $1.78, up from $1.48 a year earlier and above the $1.64 consensus estimate. Net earnings applicable to common shareholders rose to $262 million from $221 million. Zions Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Credit trends improved: Net loan and lease charge-offs fell to $3 million from $56 million year over year, while the provision for credit losses was an $8 million benefit compared with a $49 million expense in the prior-year quarter. Deposits increased 4% to $77.9 billion, loans rose 4% to $62.5 billion, and the estimated common equity tier 1 ratio improved to 11.8%. Zions Posts Third Quarter Net Earnings
• Positive Sentiment: DA Davidson raised its price target to $80 from $79 and maintained a “buy” rating, implying substantial potential upside from recent trading levels. DA Davidson analyst action
• Neutral Sentiment: Analyst views remain divided: TD Cowen reiterated “hold” with a $69 target, while RBC maintained “sector perform” and a $76 target. JPMorgan raised its target to $87 from $86 but retained an “underweight” rating, signaling caution despite the higher valuation target. Analyst price-target updates
• Negative Sentiment: Revenue slightly missed expectations: Quarterly revenue was approximately $887 million, below the roughly $890 million consensus estimate. Noninterest expense also increased 5% year over year to $553 million, which could limit operating leverage. Zions quarterly earnings report

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.