Zions Bancorporation, N.A.’s (ZION) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They presently have a $76.00 price objective on the bank’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 16.90% from the company’s previous close.

Other analysts have also issued research reports about the company. Wells Fargo & Company upped their price target on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Stephens cut their price objective on 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. TD Cowen reduced their target price on Zions Bancorporation, N.A. from $73.00 to $69.00 and set a “hold” rating on the stock in a research note on Monday, October 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. Finally, Cantor Fitzgerald dropped their price target on Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of “Hold” and an average price target of $71.59.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION traded up $1.87 during trading hours on Tuesday, hitting $65.01. 242,538 shares of the stock were exchanged, compared to its average volume of 1,642,238. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. Zions Bancorporation, N.A. has a 12-month low of $48.50 and a 12-month high of $73.34. The stock has a 50-day moving average of $66.22 and a 200 day moving average of $65.64.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The business had revenue of $887.00 million for the quarter, compared to analysts’ expectations of $889.52 million. During the same period in the prior year, the company posted $1.48 EPS. As a group, equities research analysts forecast 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 buyback plan on Thursday, July 30th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were 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 owned 17,449 shares in the company, valued at approximately $1,215,322.85. This represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Scott J. Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total value of $2,350,919.55. Following the sale, the president directly owned 73,043 shares in the company, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 88,787 shares of company stock worth $6,283,858 over the last quarter. 1.43% of the stock is owned by company insiders.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC lifted its position in Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Zions Bancorporation, N.A. in the third quarter valued at $27,000. Trust Co. of Vermont bought a new position in Zions Bancorporation, N.A. during the second quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. bought a new position in Zions Bancorporation, N.A. during the second quarter valued at about $45,000. Finally, Burnham & Co LLC acquired a new position in Zions Bancorporation, N.A. during the second quarter worth about $55,000. 76.84% of the stock is currently owned by institutional investors.

Key Zions Bancorporation, N.A. News

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

• Positive Sentiment: EPS beat estimates: Diluted earnings per share rose to $1.78 from $1.48 a year earlier, exceeding the $1.64 consensus estimate by $0.14. Net income applicable to common shareholders increased to $262 million from $221 million. Zions Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Credit trends improved sharply: Zions recorded an $8 million provision benefit, compared with a $49 million provision expense in the prior-year quarter. Net loan charge-offs fell to $3 million from $56 million, supporting profitability and reducing investor concerns about credit losses. Zions Third Quarter Financial Results
• Positive Sentiment: Balance-sheet growth remained healthy: Net interest income increased 2% year over year to $684 million, loans rose 4% to $62.5 billion, and deposits grew 4% to $77.9 billion. The estimated common equity Tier 1 ratio improved to 11.8% from 11.3%, indicating stronger capital protection. Zions Posts Third Quarter Net Earnings
• Neutral Sentiment: Revenue was mixed: Reported revenue was approximately $881 million to $887 million, modestly below the roughly $889.5 million analyst estimate. Noninterest income increased to $197 million, but noninterest expense also rose 5% to $553 million. Zions Bancorporation Q3 Earnings and Revenue

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.