Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $75.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Zions Bancorporation from $67 to $75 while keeping a neutral rating, implying about 7.1% upside from the prior close.
• Other analysts were mixed: Morgan Stanley and DA Davidson lifted targets and kept bullish ratings, while Piper Sandler cut its target. Overall, the stock still carries a Hold consensus and a $67.35 average price target.
• Zions reported strong quarterly results with EPS of $1.56, topping estimates, and revenue of $859 million. The bank also authorized a $225 million share buyback, signaling management confidence in the stock.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) had its target price raised by investment analysts at JPMorgan Chase & Co. from $67.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 7.12% from the stock's previous close.

Several other equities analysts have also issued reports on the company. Piper Sandler lowered their price target on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday, April 2nd. Morgan Stanley lifted their price objective on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday. TD Cowen boosted their price objective on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Tuesday, April 21st. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Finally, Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.35.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION traded up $0.82 during trading hours on Wednesday, hitting $70.01. 111,422 shares of the company traded hands, compared to its average volume of 1,721,840. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $69.84. The firm has a 50-day moving average of $63.68 and a 200 day moving average of $60.80. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 2.23 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same quarter in the previous year, the firm posted $1.13 EPS. On average, analysts forecast that Zions Bancorporation, N.A. will post 6.47 EPS for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share repurchase program on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ZION. Torren Management LLC bought a new stake in Zions Bancorporation, N.A. during the 4th quarter worth approximately $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth $32,000. Community Bank N.A. acquired a new stake in shares of Zions Bancorporation, N.A. in the third quarter valued at $36,000. Atlas Capital Advisors Inc. bought a new stake in Zions Bancorporation, N.A. during the 4th quarter worth about $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $42,000. Institutional investors own 76.84% of the company's stock.

About Zions Bancorporation, N.A.

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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