Zions Bancorporation, N.A. (NASDAQ:ZION) Board of Directors Initiates Stock Buyback Program

Key Points

• Zions Bancorporationʼs Board authorized a $225 million stock repurchase plan, permitting buybacks of up to 2.4% of outstanding shares via open‑market purchases, a move typically signaling management views the stock as undervalued.
• The bank reported quarterly EPS of $1.56, beating estimates by $0.13, with revenue of $849 million (slightly below expectations), a net margin of 19.53% and a return on equity of 13.9%.
• Analysts have largely raised price targets into the mid‑$60s; the consensus rating is “Hold” with an average target price of $65.53.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) declared that its Board of Directors has initiated a stock repurchase plan on Saturday, May 2nd, RTT News reports. The company plans to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of research reports. TD Cowen increased their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Tuesday, April 21st. Barclays increased their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an "underweight" rating in a report on Wednesday, April 22nd. Robert W. Baird increased their target price on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Finally, Truist Financial raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a "hold" rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $65.53.

Zions Bancorporation, N.A. Stock Down 0.3%

Shares of ZION traded down $0.16 during trading hours on Friday, reaching $63.26. The company's stock had a trading volume of 1,340,654 shares, compared to its average volume of 1,469,252. Zions Bancorporation, N.A. has a 1-year low of $45.24 and a 1-year high of $66.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 2.18 and a beta of 0.83. The company has a 50 day moving average of $58.67 and a two-hundred day moving average of $57.47.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The company had revenue of $849.00 million for the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the prior year, the business posted $1.13 EPS. As a group, research analysts predict that Zions Bancorporation, N.A. will post 6.38 EPS for the current fiscal year.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other news, EVP Derek Steward sold 769 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $60.46, for a total transaction of $46,493.74. Following the sale, the executive vice president directly owned 14,307 shares in the company, valued at approximately $865,001.22. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 2,089 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $62.48, for a total value of $130,520.72. Following the completion of the sale, the executive vice president owned 22,733 shares in the company, valued at $1,420,357.84. This trade represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,581 shares of company stock valued at $3,498,774 in the last quarter. 1.43% of the stock is currently owned by corporate insiders.

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.

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