Zions Bancorporation, N.A. (NASDAQ:ZION) Rating Lowered to Underweight at JPMorgan Chase & Co.

Zions Bancorporation, N.A. (NASDAQ:ZION) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a $75.00 price target on the bank’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 7.04% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup increased their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Morgan Stanley upped their price objective on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. DA Davidson increased their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Piper Sandler reduced their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Finally, Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock opened at $70.07 on Tuesday. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. The company’s 50-day moving average is $66.34 and its 200 day moving average is $62.07. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.83 and a current ratio of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. During the same period last year, the business earned $1.13 EPS. Sell-side analysts expect that Zions Bancorporation, N.A. will post 6.5 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its board has approved a share repurchase program on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Hedge funds have recently bought and sold shares of the company. M&T Bank Corp purchased a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth about $8,591,000. Basswood Capital Management L.L.C. lifted its holdings in Zions Bancorporation, N.A. by 266.4% in the 4th quarter. Basswood Capital Management L.L.C. now owns 404,520 shares of the bank’s stock worth $23,681,000 after purchasing an additional 294,121 shares in the last quarter. LSV Asset Management boosted its stake in Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after purchasing an additional 48,346 shares during the period. Burney Co. bought a new position in Zions Bancorporation, N.A. in the 4th quarter worth approximately $4,762,000. Finally, Qsemble Capital Management LP purchased a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at approximately $3,353,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Key Zions Bancorporation, N.A. News

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

• Positive Sentiment: Zions delivered better-than-expected Q2 results, with earnings and revenue both coming in above estimates, and management/call commentary pointed to resilient growth and solid core loan performance. Earnings Call Presentation
• Positive Sentiment: Several analysts raised price targets after the earnings release, including DA Davidson, RBC, Wells Fargo, and TD Cowen, signaling improved expectations for the stock. Analyst Rating Update
• Positive Sentiment: Independent write-ups highlighted Zions as a long-term value and momentum name, suggesting some investors still see an attractive valuation and fundamental setup. Zacks Value Stock Article
• Neutral Sentiment: Morningstar coverage of Zions Bancorp NA ZB1 did not add a clear new catalyst, so it appears more informational than market-moving. Morningstar Quote
• Negative Sentiment: The stock sold off after earnings because part of the profit increase came from non-core gains, including a Visa-related gain, while net interest margin was flat and deposits were seasonally lower than the prior quarter. Why Zions Stock Is Down Today
• Negative Sentiment: Heavy put-option activity and a JPMorgan downgrade to underweight suggest some traders are positioning defensively after the earnings release. Options and Analyst Reaction

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.