Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target Raised to $73.00 at TD Cowen

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price objective upped by TD Cowen from $71.00 to $73.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Several other analysts have also issued reports on ZION. Cantor Fitzgerald upped their target price on 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. Citigroup lifted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Stephens assumed coverage on shares of Zions Bancorporation, N.A. in a report on Monday, June 15th. They issued an “overweight” rating and a $79.00 price objective for the company. Barclays upped their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley increased their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Trading Down 4.0%

Shares of ZION stock opened at $69.05 on Tuesday. The business has a 50-day moving average price of $66.13 and a two-hundred day moving average price of $61.99. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34. 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 firm has a market cap of $10.16 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 1.72 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced 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 firm 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 in the prior year, the company earned $1.13 EPS. Equities analysts anticipate that Zions Bancorporation, N.A. will post 6.49 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a share buyback program on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, N.A. Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its holdings in 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 buying an additional 6,700 shares during the last quarter. Arista Wealth Management LLC bought a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth $230,000. Everhart Financial Group Inc. purchased a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at about $224,000. Beacon Investment Advisory Services Inc. increased its position in shares of 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 valued at $892,000 after acquiring an additional 1,448 shares during the period. Finally, Elevation Wealth Partners LLC raised its stake in shares of Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after acquiring an additional 349 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. News Summary

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.