Zions Bancorporation, N.A. (NASDAQ:ZION) Downgraded by JPMorgan Chase & Co. to Underweight

JPMorgan Chase & Co. lowered shares of Zions Bancorporation, N.A. (NASDAQ:ZION) from a neutral rating to an underweight rating in a research note released on Tuesday, Marketbeat.com reports. They currently have $75.00 target price on the bank’s stock.

ZION has been the subject of a number of other reports. Stephens assumed coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, June 15th. They set an “overweight” rating and a $79.00 price objective for the company. Robert W. Baird lifted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald lifted their target price on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Truist Financial upped their price target on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $69.05 on Tuesday. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 1.72 and a beta of 0.80. The stock has a 50-day moving average of $66.13 and a 200 day moving average of $61.99. 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 $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.99% and a net margin of 23.92%.During the same period last year, the company earned $1.13 earnings per share. Sell-side analysts anticipate that Zions Bancorporation, N.A. will post 6.49 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. Zions Bancorporation, N.A.’s payout ratio is presently 27.99%.

Zions Bancorporation, N.A. declared that its board has authorized a share repurchase program on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

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

A number of hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB increased its position in Zions Bancorporation, N.A. by 17.0% during the second quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank’s stock worth $3,190,000 after purchasing an additional 6,700 shares during the last quarter. Arista Wealth Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $230,000. Everhart Financial Group Inc. acquired a new position in Zions Bancorporation, N.A. in the second quarter valued at approximately $224,000. Beacon Investment Advisory Services Inc. grew its position in Zions Bancorporation, N.A. by 12.6% in the second quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank’s stock worth $892,000 after acquiring an additional 1,448 shares during the period. Finally, Elevation Wealth Partners LLC increased its stake in Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after acquiring an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Key Zions Bancorporation, N.A. News

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Zions reported Q2 adjusted earnings of $1.74 per share, ahead of estimates, with revenue of $878 million also slightly above forecasts. The bank also highlighted solid year-over-year earnings growth and improved core loan activity. Zions Bancorporation, National Association Reports Second Quarter Financial Results
• Positive Sentiment: Several analysts raised price targets after the earnings release, including DA Davidson, RBC, Wells Fargo, Stephens, and TD Cowen, signaling that Wall Street still sees upside even after the recent run-up. Zions Bancorp Analysts Increase Their Forecasts After Better-Than-Expected Q2 Earnings
• Neutral Sentiment: Recent analyst actions were mixed overall: some firms lifted targets while JPMorgan downgraded the stock to underweight, and several notes still cluster around a hold/neutral view. Analyst rating updates
• Neutral Sentiment: Unusually heavy put-option buying suggests some traders are hedging or betting on near-term downside, which may be adding pressure to sentiment. Options activity
• Negative Sentiment: The stock is under pressure because investors are focusing on the quality of earnings: a large portion of Q2 profit came from investment gains, while net interest margin was flat and deposit growth/loan growth were only modest. Zions Q2 Earnings Beat as Revenues Rise, Stock Dips on Cost Woes
• Negative Sentiment: GF Value and related commentary indicate the shares still look overvalued after the recent rally, which may be limiting buying interest. Zions Bancorp NA Shares Fall 4.0% — GF Value Says Still Overvalued

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.