Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Reaffirmed as "Sector Perform" by Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “Sector Perform” rating on Zions Bancorporation, with a $76 price target—implying approximately 16.6% upside from the reported $65.16 share price.
• Zions reported quarterly EPS of $1.78, beating the $1.64 consensus estimate and rising from $1.48 a year earlier, while revenue of about $887 million was slightly below expectations.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $71.59; the bank also authorized a $75 million share-repurchase program.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report)'s stock had its "sector perform" rating restated by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $76.00 price objective on the bank's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 16.63% from the company's current price.

ZION has been the topic of several other reports. TD Cowen lowered their price target on shares of Zions Bancorporation, N.A. from $73.00 to $69.00 and set a "hold" rating on the stock in a research note on Monday, October 5th. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a "neutral" rating to an "outperform" rating and set a $75.00 price objective on the stock in a research note on Thursday, October 15th. Morgan Stanley boosted their price objective on shares of Zions Bancorporation, N.A. from $77.00 to $78.00 and gave the stock an "underweight" rating in a research note on Monday, September 28th. Evercore lowered shares of Zions Bancorporation, N.A. from an "outperform" rating to an "in-line" rating and set a $68.00 price objective on the stock. in a research note on Thursday, July 23rd. Finally, UBS Group started coverage on shares of Zions Bancorporation, N.A. in a research note on Monday, September 14th. They set a "buy" rating and a $78.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $71.59.

Zions Bancorporation, N.A. Stock Up 3.2%

ZION stock traded up $2.02 during midday trading on Tuesday, hitting $65.16. The company's stock had a trading volume of 341,568 shares, compared to its average volume of 1,642,942. 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 twelve month low of $48.50 and a twelve month high of $73.34. The company's fifty day moving average price is $66.22 and its 200 day moving average price is $65.64. The stock has a market capitalization of $9.51 billion, a P/E ratio of 8.31, a PEG ratio of 1.04 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.14. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The firm had revenue of $887.00 million for the quarter, compared to analyst estimates of $889.52 million. During the same period in the previous year, the business earned $1.48 EPS. As a group, equities research analysts predict that Zions Bancorporation, N.A. will post 6.60 EPS for the current year.

Zions Bancorporation, N.A. declared that its board has authorized a stock repurchase program on Thursday, July 30th that permits the company to buy back $75.00 million in shares. This buyback authorization permits the bank to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other news, EVP Derek Steward sold 894 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the transaction, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Scott Mclean sold 33,285 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the transaction, the president owned 73,043 shares in the company, 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 have sold 88,787 shares of company stock worth $6,283,858 in the last ninety days. Insiders own 1.43% of the company's stock.

Institutional Trading of Zions Bancorporation, N.A.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Burns Matteson Capital Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth about $522,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth about $27,000. Essex LLC boosted its holdings in shares of 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 during the period. First Citizens Bank & Trust Co. bought a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth about $1,027,000. Finally, Fragasso Financial Advisors Inc bought a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth about $375,000. 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: 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.