Wells Fargo & Company Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

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

Several other research analysts have also recently commented on the stock. Stephens decreased their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday. Robert W. Baird boosted their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citigroup increased their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. TD Cowen boosted their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $75.00 price target on shares of Zions Bancorporation, N.A. in a research note on Tuesday. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.29.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION traded down $3.00 during midday trading on Tuesday, hitting $68.89. 2,646,449 shares of the stock traded hands, compared to its average volume of 1,738,555. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $73.34. The firm has a market capitalization of $10.13 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50 day moving average price is $65.96 and its two-hundred day moving average price is $61.92.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly 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. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The business had revenue of $878.00 million during the quarter, compared to analyst estimates of $877.44 million. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Equities research analysts predict that Zions Bancorporation, N.A. will post 6.49 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock repurchase program on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Handelsbanken Fonder AB boosted its holdings in Zions Bancorporation, N.A. by 17.0% during the second quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank’s stock worth $3,190,000 after buying an additional 6,700 shares in the last quarter. Arista Wealth Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at $230,000. Everhart Financial Group Inc. acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at $224,000. Beacon Investment Advisory Services Inc. lifted its position in shares of Zions Bancorporation, N.A. by 12.6% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank’s stock valued at $892,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake 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 worth $29,000 after acquiring an additional 349 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Key Stories 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.