Zions Bancorporation, N.A.’s (ZION) “Neutral” Rating Reaffirmed at Robert W. Baird

Zions Bancorporation, N.A. (NASDAQ:ZION)‘s stock had its “neutral” rating restated by stock analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $68.00 price objective on the bank’s stock. Robert W. Baird’s target price would suggest a potential upside of 1.31% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Brean Capital started coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, March 12th. They set a “neutral” rating for the company. Stephens assumed coverage on shares of Zions Bancorporation, N.A. in a research note on Monday, June 15th. They issued an “overweight” rating and a $79.00 price objective on the stock. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Citigroup upped their target price on 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. Finally, JPMorgan Chase & Co. raised their target price on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $66.35.

Zions Bancorporation, N.A. Trading Up 1.4%

Shares of NASDAQ:ZION opened at $67.12 on Tuesday. The company has a market capitalization of $9.87 billion, a P/E ratio of 10.44, a P/E/G ratio of 2.19 and a beta of 0.81. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $67.99. 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 business’s 50 day simple moving average is $62.81 and its 200 day simple moving average is $60.25.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $859.00 million during the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter in the previous year, the firm earned $1.13 earnings per share. On average, research analysts anticipate that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were 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 SEC, which is available at this link. 1.43% of the stock is owned by corporate insiders.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of ZION. Royal Bank of Canada grew its holdings in shares of Zions Bancorporation, N.A. by 76.3% during the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after purchasing an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Zions Bancorporation, N.A. by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after buying an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Zions Bancorporation, N.A. by 0.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after buying an additional 2,659 shares during the period. Focus Partners Wealth boosted its position in Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after buying an additional 10,283 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Zions Bancorporation, N.A. by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after acquiring an additional 625 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

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.