Zions Bancorporation, N.A. (NASDAQ:ZION) Now Covered by Stephens

Key Points

• Stephens initiated coverage on Zions Bancorporation with an overweight rating, adding to a mixed analyst picture that currently shows a consensus Hold and an average target price of $65.53.
• The bank recently reported better-than-expected Q1 earnings of $1.56 per share, topping estimates of $1.43, while revenue also slightly beat forecasts at $859 million.
• Zions also announced a $225 million share repurchase program, which would allow it to buy back up to 2.4% of outstanding shares and may signal management believes the stock is undervalued.

Stock analysts at Stephens initiated coverage on shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) in a note issued to investors on Monday. The brokerage set an "overweight" rating on the bank's stock.

ZION has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. Truist Financial boosted their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday, April 21st. Piper Sandler dropped their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Morgan Stanley dropped their target price on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Finally, Robert W. Baird boosted their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.53.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION traded down $0.36 on Monday, reaching $66.89. The stock had a trading volume of 458,396 shares, compared to its average volume of 1,713,670. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $67.99. The business's 50-day moving average price is $61.98 and its 200 day moving average price is $59.71. The stock has a market cap of $9.84 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The company had revenue of $859.00 million during the quarter, compared to analysts' expectations of $853.73 million. During the same quarter in the previous year, the business earned $1.13 earnings per share. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 6.44 earnings per share 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 allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are 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 firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.43% of the company's stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several hedge funds and other institutional investors have recently modified their holdings of ZION. Royal Bank of Canada lifted its stake in shares of Zions Bancorporation, N.A. by 76.3% in the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank's stock valued at $6,853,000 after purchasing an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Zions Bancorporation, N.A. by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank's stock valued at $2,042,000 after purchasing an additional 6,393 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Zions Bancorporation, N.A. by 0.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank's stock valued at $25,172,000 after purchasing an additional 2,659 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Zions Bancorporation, N.A. by 91.7% in the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank's stock valued at $1,072,000 after purchasing an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Zions Bancorporation, N.A. by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank's stock valued at $94,000 after purchasing an additional 625 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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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