DA Davidson Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target boosted by equities researchers at DA Davidson from $82.00 to $84.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 19.88% from the stock’s previous close.

A number of other brokerages have also commented on ZION. Piper Sandler cut their price objective on shares of 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. Cantor Fitzgerald raised their target price on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Wells Fargo & Company raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Morgan Stanley lifted their price target on shares of 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, Robert W. Baird boosted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Trading Up 1.5%

NASDAQ ZION opened at $70.07 on Tuesday. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.65 and a beta of 0.80. The stock’s 50 day moving average price is $66.34 and its two-hundred day moving average price is $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. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week 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 for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million during the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.During the same quarter in the prior year, the firm posted $1.13 EPS. As a group, analysts anticipate that Zions Bancorporation, N.A. will post 6.5 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has authorized a stock repurchase plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Elevation Wealth Partners LLC increased its stake in shares of Zions Bancorporation, N.A. by 528.8% during the 2nd 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 last quarter. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Leonteq Securities AG acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. bought a new position in Zions Bancorporation, N.A. during the fourth quarter worth about $36,000. Finally, V Square Quantitative Management LLC bought a new position in Zions Bancorporation, N.A. during the fourth quarter worth about $42,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. News Summary

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.