Zions Bancorporation, N.A. (NASDAQ:ZION) Shares Gap Down on Analyst Downgrade

Zions Bancorporation, N.A. (NASDAQ:ZION) gapped down before the market opened on Tuesday after Stephens lowered their price target on the stock from $82.00 to $80.00. The stock had previously closed at $71.89, but opened at $68.02. Stephens currently has an overweight rating on the stock. Zions Bancorporation, N.A. shares last traded at $68.9520, with a volume of 770,966 shares changing hands.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird raised their price target on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Truist Financial increased their price objective on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. DA Davidson raised their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Barclays lifted their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, April 22nd. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and an average target price of $71.29.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the 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 accessible through the SEC website. Insiders own 1.43% of the company’s stock.

More 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

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

Several institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Zions Bancorporation, N.A. during the fourth quarter worth $105,700,000. Balyasny Asset Management L.P. grew its stake in Zions Bancorporation, N.A. by 1,270.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock valued at $67,145,000 after purchasing an additional 1,063,303 shares during the period. AQR Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 31.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after purchasing an additional 711,218 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at $32,008,000. Finally, FIL Ltd raised its stake in shares of Zions Bancorporation, N.A. by 117.6% during the 4th quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after purchasing an additional 601,610 shares during the period. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Stock Up 1.5%

The stock has a 50 day moving average price of $66.34 and a 200 day moving average price of $62.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $10.31 billion, a P/E ratio of 8.93, a PEG ratio of 1.65 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the prior year, the business earned $1.13 earnings per share. Equities research analysts forecast that Zions Bancorporation, N.A. will post 6.5 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.6%. Zions Bancorporation, N.A.’s payout ratio is currently 22.93%.

Zions Bancorporation, N.A. declared that its board has authorized a share buyback plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.