Cantor Fitzgerald Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) had its target price boosted by stock analysts at Cantor Fitzgerald from $69.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 11.61% from the company’s current price.

Several other analysts have also issued reports on the company. Robert W. Baird reiterated a “neutral” rating and set a $68.00 price objective on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. Barclays boosted their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. 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 report on Wednesday, April 22nd. Royal Bank Of Canada raised their price target on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Six analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.12.

Zions Bancorporation, N.A. Trading Up 1.8%

Shares of ZION traded up $1.26 during midday trading on Wednesday, hitting $71.68. The stock had a trading volume of 376,136 shares, compared to its average volume of 1,712,052. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $71.75. The business has a 50-day simple moving average of $65.18 and a two-hundred day simple moving average of $61.55. The firm has a market cap of $10.54 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The firm had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. During the same period in the previous year, the company posted $1.13 EPS. As a group, equities analysts forecast that Zions Bancorporation, N.A. will post 6.49 EPS for the current year.

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

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.43% of the stock is currently owned by company insiders.

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

Several institutional investors and hedge funds have recently bought and sold shares of the business. Elevation Wealth Partners LLC boosted its position in shares of Zions Bancorporation, N.A. by 528.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after acquiring an additional 349 shares in the last quarter. Torren Management LLC acquired a new position in Zions Bancorporation, N.A. in the fourth quarter worth about $32,000. Leonteq Securities AG bought a new position in Zions Bancorporation, N.A. during the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. bought a new position in Zions Bancorporation, N.A. during the fourth quarter worth about $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $42,000. Institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

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.