Zions Bancorporation, N.A. (NASDAQ:ZION) Shares Gap Down After Analyst Downgrade

Zions Bancorporation, N.A. (NASDAQ:ZION)’s share price gapped down prior to trading on Tuesday after Stephens lowered their price target on the stock from $82.00 to $80.00. The stock had previously closed at $71.89, but opened at $68.02. Stephens currently has an overweight rating on the stock. Zions Bancorporation, N.A. shares last traded at $68.9520, with a volume of 770,966 shares.

A number of other brokerages also recently issued reports on ZION. TD Cowen lifted their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Tuesday. Cantor Fitzgerald raised 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 note on Wednesday, July 15th. Truist Financial lifted 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 report on Friday, July 10th. Royal Bank Of Canada lifted their price target on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.29.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Key Stories Impacting Zions Bancorporation, N.A.

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

Institutional Trading of Zions Bancorporation, N.A.

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

Zions Bancorporation, N.A. Stock Performance

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $66.13 and a 200-day moving average of $61.99. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 1.72 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $859.00 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $1.13 EPS. As a group, sell-side analysts predict that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $0.45 dividend. 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 dividend payout ratio is currently 27.99%.

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

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.