Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Reaffirmed as "Hold" by TD Cowen

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at TD Cowen in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $69.00 target price on the bank's stock. TD Cowen's price objective would indicate a potential upside of 7.47% from the company's current price.

A number of other research analysts have also commented on the stock. UBS Group initiated coverage on shares of Zions Bancorporation, N.A. in a research note on Monday, September 14th. They issued a "buy" rating and a $78.00 price objective on the stock. Piper Sandler dropped their price target on Zions Bancorporation, N.A. from $71.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, October 1st. Cantor Fitzgerald reduced their price objective 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. Truist Financial decreased their price objective on Zions Bancorporation, N.A. from $72.00 to $67.00 and set a "hold" rating for the company in a research report on Friday, October 9th. Finally, DA Davidson lifted their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $72.65.

Zions Bancorporation, N.A. Stock Up 1.7%

Shares of ZION traded up $1.07 during mid-day trading on Tuesday, reaching $64.21. The company's stock had a trading volume of 755,778 shares, compared to its average volume of 1,644,262. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. Zions Bancorporation, N.A. has a 12-month low of $48.50 and a 12-month high of $73.34. The stock has a market cap of $9.37 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. The company's 50 day moving average is $66.22 and its 200 day moving average is $65.64.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.14. The firm had revenue of $887.00 million during the quarter, compared to analysts' expectations of $889.52 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 previous year, the business earned $1.48 earnings per share. Equities analysts anticipate that Zions Bancorporation, N.A. will post 6.60 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback 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 repurchase up to 0.7% of its shares through open market purchases. Share repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, EVP Derek Steward sold 894 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the sale, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Scott J. Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the transaction, the president owned 73,043 shares of the company's stock, valued at $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 a total of 88,787 shares of company stock worth $6,283,858 over the last 90 days. 1.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of large investors have recently bought and sold shares of the stock. Burns Matteson Capital Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the third quarter valued at approximately $522,000. Pension & Wealth Management Advisors Inc. purchased a new stake in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $27,000. Essex LLC lifted its holdings in Zions Bancorporation, N.A. by 7.0% during the 3rd quarter. Essex LLC now owns 5,415 shares of the bank's stock worth $339,000 after buying an additional 355 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Zions Bancorporation, N.A. in the third quarter worth $1,027,000. Finally, Fragasso Financial Advisors Inc purchased a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $375,000. Institutional investors and hedge funds own 76.84% of the company's stock.

Key Headlines Impacting Zions Bancorporation, N.A.

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

About Zions Bancorporation, N.A.

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.