Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Target Raised at Stephens

Key Points

• Stephens raised Zions Bancorporation’s price target to $78 from $75 and maintained an “overweight” rating, implying 17.82% potential upside from the previous close.
• Analyst sentiment is mixed: Zions has an average “Hold” rating and a consensus price target of $73.44, based on seven Buy, eight Hold, and three Sell ratings.
• The bank reported quarterly EPS of $1.78, exceeding the $1.64 consensus estimate, while revenue of $887 million fell slightly short of expectations. Zions also authorized a $75 million share-repurchase program.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) had its target price increased by equities researchers at Stephens from $75.00 to $78.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Stephens's price objective would indicate a potential upside of 17.82% from the company's previous close.

ZION has been the subject of a number of other research reports. Truist Financial dropped their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Zions Bancorporation, N.A. from $86.00 to $87.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 20th. Morgan Stanley lowered their target price on shares of Zions Bancorporation, N.A. from $78.00 to $77.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 20th. Citigroup lowered their target price on shares of Zions Bancorporation, N.A. from $73.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company boosted their price target on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $73.44.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock opened at $66.20 on Monday. The company has a market capitalization of $9.66 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 1.04 and a beta of 0.84. Zions Bancorporation, N.A. has a 52-week low of $48.50 and a 52-week high of $73.34. The business's fifty day moving average is $65.74 and its 200 day moving average is $65.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.86.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, October 19th. The bank reported $1.78 EPS for the quarter, topping the consensus estimate of $1.64 by $0.14. The business 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 13.77% and a net margin of 24.81%. During the same period in the previous year, the business earned $1.48 earnings per share. On average, equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.67 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a share repurchase program on Thursday, July 30th that allows the company to buy back $75.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 0.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Scott Law sold 4,608 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the transaction, the executive vice president owned 32,890 shares of the company's stock, valued at $2,381,893.80. This represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Derek Steward sold 894 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the sale, the executive vice president directly owned 17,449 shares of the company's stock, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 88,787 shares of company stock valued at $6,283,858 in the last ninety days. Company insiders own 1.43% of the company's stock.

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

Several institutional investors and hedge funds have recently modified their holdings of ZION. Bank of New York Mellon Corp bought a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $87,961,000. Deutsche Bank AG bought a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $71,767,000. Bank of America Corp DE bought a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $40,776,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $4,933,000. Finally, Amundi lifted its stake in shares of Zions Bancorporation, N.A. by 415.2% in the 2nd quarter. Amundi now owns 189,013 shares of the bank's stock valued at $13,078,000 after purchasing an additional 152,328 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.