Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target upped by Royal Bank Of Canada from $74.00 to $76.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 8.46% from the company’s current price.

A number of other brokerages also recently commented on ZION. Wells Fargo & Company increased their price target on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Cantor Fitzgerald lifted their price objective on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Piper Sandler cut their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Morgan Stanley increased their target price on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Six 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 company’s stock. Based on data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Price Performance

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

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $1.13 EPS. Equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.5 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.43% of the company’s stock.

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

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Zions Bancorporation, N.A. by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock worth $430,813,000 after buying an additional 56,438 shares during the last quarter. LSV Asset Management lifted its stake in Zions Bancorporation, N.A. by 1.3% in the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after buying an additional 48,346 shares during the last quarter. Morgan Stanley lifted its stake in Zions Bancorporation, N.A. by 10.8% in the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after buying an additional 306,717 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after acquiring an additional 711,218 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after acquiring an additional 30,881 shares during the period. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. News Roundup

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

Zions Bancorporation, N.A. Company Profile

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.