Wells Fargo & Company Issues Positive Forecast for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Zions Bancorporation, N.A. (NASDAQ:ZION) had its price target increased by equities researchers at Wells Fargo & Company from $66.00 to $73.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.97% from the company’s previous close.

Several other brokerages also recently issued reports on ZION. Royal Bank Of Canada boosted their target price on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research note on Tuesday. Weiss Ratings upgraded 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 research report on Tuesday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $75.00 price objective on shares of Zions Bancorporation, N.A. in a research note on Tuesday. Finally, Barclays raised their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Trading Down 4.2%

NASDAQ ZION traded down $3.00 on Tuesday, hitting $68.89. 2,646,449 shares of the company were exchanged, compared to its average volume of 1,738,555. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34. The firm has a market capitalization of $10.13 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The company’s 50 day moving average price is $65.96 and its 200-day moving average price is $61.92.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.57 by $0.17. The company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $877.44 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period last year, the company posted $1.63 earnings per share. 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 initiated a stock buyback program on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently made changes to their positions in ZION. Elevation Wealth Partners LLC increased its holdings 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 worth $29,000 after buying an additional 349 shares during the last quarter. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at approximately $32,000. Leonteq Securities AG acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. bought a new stake in Zions Bancorporation, N.A. in the fourth quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC bought a new stake in Zions Bancorporation, N.A. in the fourth quarter worth approximately $42,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Zions Bancorporation, N.A.

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

• Positive Sentiment: DA Davidson raised its price target on Zions Bancorporation, N.A. and kept a buy rating, implying meaningful upside from current levels. DA Davidson price target raise
• Positive Sentiment: Royal Bank of Canada, Stephens, TD Cowen, and Robert W. Baird all lifted their price targets after the earnings release, signaling generally constructive analyst sentiment toward ZION. Multiple analyst target changes
• Positive Sentiment: Q2 earnings came in above estimates at $1.74 per share, with revenue also slightly ahead of forecasts, showing the bank still delivered a solid quarter on the surface. Q2 earnings release
• Positive Sentiment: Some longer-term commentary highlighted core loan growth and the company’s valuation as attractive, which may support the stock over time. Seeking Alpha article
• Neutral Sentiment: Trading activity was unusually heavy in ZION put options, suggesting some investors are hedging for near-term volatility rather than making a clear directional bet.
• Neutral Sentiment: JPMorgan reaffirmed an underweight rating, but its $75 target still sits above the current share price, making the note more mixed than outright bearish. JPMorgan rating reaffirmation
• Negative Sentiment: The post-earnings selloff appears tied to concerns that much of the quarter’s profit came from investment gains, while net interest margin was flat and deposit and loan trends were less exciting than investors hoped. Why Zions stock is down today

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.