Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Reaffirmed as “Sector Perform” by Royal Bank Of Canada

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They currently have a $76.00 target price on the bank’s stock. Royal Bank Of Canada‘s target price would suggest a potential upside of 14.48% from the stock’s current price.

ZION has been the topic of several other research reports. Stephens reduced their price target on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. 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 target price on the stock. DA Davidson raised their target price on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of 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. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of “Hold” and an average price target of $73.56.

Zions Bancorporation, N.A. Stock Up 1.0%

Shares of ZION opened at $66.39 on Tuesday. Zions Bancorporation, N.A. has a 12 month low of $48.50 and a 12 month high of $73.34. The firm’s 50 day moving average is $65.86 and its 200-day moving average is $65.79. The stock has a market capitalization of $9.69 billion, a PE ratio of 8.15, a P/E/G ratio of 1.08 and a beta of 0.84. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, October 19th. The bank reported $1.78 EPS for the quarter, topping the consensus estimate of $1.64 by $0.14. The company had revenue of $887.00 million for the quarter, compared to analysts’ expectations of $889.52 million. Zions Bancorporation, N.A. had a net margin of 24.81% and a return on equity of 13.77%. During the same period last year, the firm earned $1.48 earnings per share. Equities research analysts forecast that Zions Bancorporation, N.A. will post 6.61 EPS for the current year.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a share repurchase program on Thursday, July 30th that permits the company to repurchase $75.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 0.7% of its shares through open market purchases. Share buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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

In other news, EVP Scott A. Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares in the company, valued at $2,381,893.80. This trade represents a 12.29% 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, President Scott J. Mclean sold 33,285 shares of Zions Bancorporation, N.A. 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 transaction, the president 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 88,787 shares of company stock valued at $6,283,858. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZION. Capital Investment Advisors LLC boosted its holdings in Zions Bancorporation, N.A. by 12.1% during the third quarter. Capital Investment Advisors LLC now owns 3,828 shares of the bank’s stock worth $240,000 after purchasing an additional 413 shares during the last quarter. Inspire Investing LLC boosted its holdings in Zions Bancorporation, N.A. by 3.5% during the third quarter. Inspire Investing LLC now owns 8,081 shares of the bank’s stock worth $506,000 after purchasing an additional 271 shares during the last quarter. MBL Wealth LLC purchased a new position in Zions Bancorporation, N.A. during the third quarter worth about $327,000. Root Financial Partners LLC purchased a new position in Zions Bancorporation, N.A. in the third quarter valued at about $60,000. Finally, Vest Financial LLC boosted its stake in Zions Bancorporation, N.A. by 2.2% in the third quarter. Vest Financial LLC now owns 129,154 shares of the bank’s stock valued at $8,091,000 after acquiring an additional 2,787 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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.