Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $84.00 Price Target at DA Davidson

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective increased by DA Davidson from $82.00 to $84.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other equities research analysts have also weighed in on ZION. Stephens cut their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price on the stock. in a report on Tuesday. Wells Fargo & Company upped their target price 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. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Morgan Stanley increased their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Trading Down 4.0%

Shares of ZION opened at $69.05 on Tuesday. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The firm has a market cap 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 firm has a 50 day moving average price of $66.13 and a 200-day moving average price of $61.99. 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. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.99%. During the same quarter in the prior year, the company posted $1.13 EPS. As a group, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current year.

Zions Bancorporation, N.A. Dividend Announcement

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

Zions Bancorporation, N.A. announced that its board has initiated a stock buyback plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

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 the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

Several hedge funds have recently made changes to their positions in ZION. Norges Bank bought a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter valued at approximately $105,700,000. Balyasny Asset Management L.P. grew its stake in Zions Bancorporation, N.A. by 1,270.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock worth $67,145,000 after acquiring an additional 1,063,303 shares in the last quarter. AQR Capital Management LLC grew its stake in Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Zions Bancorporation, N.A. in the second quarter worth about $32,008,000. Finally, FIL Ltd lifted its stake in Zions Bancorporation, N.A. by 117.6% in the fourth quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after acquiring an additional 601,610 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

More 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.