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Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Robert W. Baird Analyst Says

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Key Points

  • Robert W. Baird raised its price target on Zions Bancorporation to $75 from $68, while keeping a neutral rating. The new target implies about 4.3% upside from the current share price.
  • Zions reported better-than-expected second-quarter results, with EPS of $1.74 versus the $1.57 consensus and revenue of $878 million slightly above estimates. Profitability also looked solid, with a 13.90% return on equity and 19.53% net margin.
  • The stock has drawn a mix of analyst views, but the broader consensus remains Hold with an average price target of $69.53. Zions also has a $225 million share repurchase plan in place, which may signal management believes the stock is undervalued.
  • MarketBeat previews the top five stocks to own by August 1st.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) had its price objective hoisted by analysts at Robert W. Baird from $68.00 to $75.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. Robert W. Baird's target price points to a potential upside of 4.33% from the stock's current price.

Several other brokerages also recently weighed in on ZION. Stephens assumed coverage on Zions Bancorporation, N.A. in a report on Monday, June 15th. They set an "overweight" rating and a $79.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Cantor Fitzgerald raised their target price on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. DA Davidson lifted their target price on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Finally, TD Cowen lifted their target price on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a "hold" rating in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $69.53.

Read Our Latest Stock Report on ZION

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock opened at $71.89 on Tuesday. The stock's 50-day moving average price is $65.96 and its 200 day moving average price is $61.92. 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 stock has a market capitalization of $10.57 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.17. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period last year, the business posted $1.63 EPS. As a group, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.49 EPS for the current year.

Zions Bancorporation, N.A. announced that its board has approved a share repurchase plan on Saturday, May 2nd that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity 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 on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its position in shares of Zions Bancorporation, N.A. by 17.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank's stock valued at $3,190,000 after acquiring an additional 6,700 shares during the period. Arista Wealth Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $230,000. Everhart Financial Group Inc. acquired a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth approximately $224,000. Beacon Investment Advisory Services Inc. increased its stake in Zions Bancorporation, N.A. by 12.6% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank's stock valued at $892,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in Zions Bancorporation, N.A. by 528.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank's stock valued at $29,000 after purchasing an additional 349 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Zions Bancorporation, N.A.

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Zions Bancorporation, N.A. Company Profile

(Get Free Report)

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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Analyst Recommendations for Zions Bancorporation, N.A. (NASDAQ:ZION)

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.

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