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

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “sector perform” rating restated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $76.00 price target on the bank’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 16.20% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Stephens reduced their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Cantor Fitzgerald lowered their target price on Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. DA Davidson boosted their target price on 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. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Thursday, October 15th. Finally, TD Cowen cut their price target on shares of Zions Bancorporation, N.A. from $73.00 to $69.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. 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. According to data from MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and an average price target of $71.59.

Zions Bancorporation, N.A. Trading Up 3.6%

Shares of NASDAQ ZION opened at $65.40 on Tuesday. Zions Bancorporation, N.A. has a 1-year low of $48.50 and a 1-year high of $73.34. The company has a market cap of $9.55 billion, a PE ratio of 8.27, a P/E/G ratio of 1.04 and a beta of 0.84. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $66.22 and a two-hundred day moving average of $65.64.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 19th. The bank reported $1.78 EPS for the quarter, beating the consensus estimate of $1.64 by $0.14. The business 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 23.92% and a return on equity of 13.72%. During the same period in the prior year, the firm earned $1.48 earnings per share. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 6.60 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has approved a stock repurchase plan on Thursday, July 30th that permits the company to buy back $75.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 0.7% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

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

In related news, EVP Scott Law sold 4,608 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the sale, the executive vice president directly owned 32,890 shares in the company, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Scott Mclean sold 33,285 shares of the firm’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 completion of the transaction, the president directly owned 73,043 shares in the company, valued at approximately $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 in the last quarter. Company insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several institutional investors have recently added to or reduced their stakes in ZION. Bank of New York Mellon Corp acquired a new position in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $87,961,000. Deutsche Bank AG bought a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth about $71,767,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at about $4,933,000. Amundi boosted its stake in Zions Bancorporation, N.A. by 415.2% during the second quarter. Amundi now owns 189,013 shares of the bank’s stock valued at $13,078,000 after buying an additional 152,328 shares during the period. Finally, BlackRock Inc. purchased a new position in Zions Bancorporation, N.A. in the 2nd quarter worth approximately $982,244,000. 76.84% of the stock is owned by institutional investors and hedge funds.

More 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.