Zions Bancorporation, N.A. (NASDAQ:ZION) Given New $76.00 Price Target at Royal Bank Of Canada

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) had its price objective increased by stock analysts at Royal Bank Of Canada from $74.00 to $76.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the bank’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 10.17% from the company’s previous close.

ZION has been the subject of a number of other research reports. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. restated an “underweight” rating and set a $75.00 price target on shares of Zions Bancorporation, N.A. in a report on Tuesday. TD Cowen lifted their price objective on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Tuesday. Morgan Stanley upped their price objective 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. Finally, Wells Fargo & Company increased their target price on Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.53.

Get Our Latest Analysis on ZION

Zions Bancorporation, N.A. Trading Down 4.0%

ZION stock traded down $2.91 during trading on Tuesday, hitting $68.98. The company had a trading volume of 2,014,552 shares, compared to its average volume of 1,734,081. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. 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 business has a 50-day moving average of $65.96 and a 200-day moving average of $61.92. The stock has a market cap of $10.15 billion, a PE ratio of 10.72, a PEG ratio of 1.73 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last posted 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 return on equity of 13.90% and a net margin of 19.53%.The firm had revenue of $878.00 million during the quarter, compared to analyst estimates of $877.44 million. During the same period last year, the company earned $1.63 earnings per share. Research analysts predict that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock repurchase plan on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

A number of institutional investors have recently added to or reduced their stakes in ZION. Elevation Wealth Partners LLC lifted its position in Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after buying an additional 349 shares during the last quarter. Torren Management LLC purchased a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $32,000. Leonteq Securities AG acquired a new position in Zions Bancorporation, N.A. during the fourth quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter worth $36,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Key Headlines Impacting Zions Bancorporation, N.A.

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

Zions Bancorporation, N.A. Company Profile

(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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