DA Davidson Issues Positive Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) had its price objective hoisted by investment analysts at DA Davidson from $82.00 to $84.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. DA Davidson’s target price indicates a potential upside of 21.89% from the company’s current price.

Other analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. TD Cowen upped their price target on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday. Cantor Fitzgerald increased their price objective on 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. JPMorgan Chase & Co. reissued an “underweight” rating and set a $75.00 price objective on shares of Zions Bancorporation, N.A. in a research note on Tuesday. Finally, Morgan Stanley lifted their target price on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.88.

Read Our Latest Analysis on Zions Bancorporation, N.A.

Zions Bancorporation, N.A. Stock Performance

ZION stock traded down $2.97 on Tuesday, reaching $68.92. The company’s stock had a trading volume of 2,199,943 shares, compared to its average volume of 1,735,989. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $10.14 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The firm has a fifty day moving average of $65.96 and a two-hundred day moving average of $61.92.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last released its quarterly earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $877.44 million. During the same period in the previous year, the firm earned $1.63 EPS. As a group, analysts predict that Zions Bancorporation, N.A. will post 6.49 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock buyback program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

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 stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

A number of institutional investors have recently bought and sold shares of ZION. Dimensional Fund Advisors LP grew its stake in shares of Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after buying an additional 56,438 shares in the last quarter. LSV Asset Management increased its holdings in Zions Bancorporation, N.A. by 1.3% in the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after buying an additional 48,346 shares during the last quarter. Morgan Stanley raised its position in Zions Bancorporation, N.A. by 10.8% during the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after acquiring an additional 306,717 shares in the last quarter. AQR Capital Management LLC raised its position in 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 acquiring an additional 711,218 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after acquiring an additional 30,881 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

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About Zions Bancorporation, N.A.

(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)

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