Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Raised to Outperform at Robert W. Baird

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $75.00 price objective on the bank’s stock. Robert W. Baird’s price target would indicate a potential upside of 18.35% from the company’s previous close.

ZION has been the topic of several other research reports. Cantor Fitzgerald cut their target price on Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank Of Canada increased their price objective on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Evercore downgraded Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a research report on Thursday, July 23rd. Wall Street Zen raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Zions Bancorporation, N.A. from $75.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, October 1st. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.59.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION traded up $0.36 during mid-day trading on Thursday, hitting $63.37. 1,674,476 shares of the stock were exchanged, compared to its average volume of 1,649,225. The firm’s 50-day simple moving average is $66.51 and its 200 day simple moving average is $65.54. Zions Bancorporation, N.A. has a fifty-two week low of $47.77 and a fifty-two week high of $73.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 1.01 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data 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 13.72% and a net margin of 23.92%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $877.44 million. During the same quarter last year, the company earned $1.63 EPS. The company’s revenue was up 35.7% on a year-over-year basis. As a group, equities analysts anticipate that Zions Bancorporation, N.A. will post 6.60 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a share buyback program on Thursday, July 30th that authorizes the company to buy back $75.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.7% of its stock through open market purchases. Share repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the sale, the executive vice president owned 17,449 shares of the company’s stock, valued at $1,215,322.85. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the sale, the executive vice president directly owned 32,890 shares of the company’s stock, valued at $2,381,893.80. This represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 88,787 shares of company stock worth $6,283,858 over the last 90 days. Corporate insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors have recently added to or reduced their stakes in ZION. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Zions Bancorporation, N.A. during the third quarter worth $27,000. Elevation Wealth Partners LLC grew 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 worth $29,000 after purchasing an additional 349 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Zions Bancorporation, N.A. during the second quarter worth $35,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Zions Bancorporation, N.A. in the second quarter valued at $45,000. Finally, Burnham & Co LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the second quarter worth about $55,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a regional financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides banking and financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and consumer lending, checking and savings accounts, treasury management, mortgage services, private banking, wealth management, and capital markets services. Zions operates through locally recognized brands including Zions Bank, Amegy Bank, California Bank & Trust, Nevada State Bank, and Vectra Bank Colorado.

Founded in 1873, Zions has expanded its presence across the western United States, serving customers in markets that include Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Wyoming.