Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Rating Upgraded by Robert W. Baird

Zions Bancorporation, N.A. (NASDAQ:ZION) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Thursday, Benzinga reports. The firm currently has a $75.00 price objective on the bank’s stock. Robert W. Baird’s price target would indicate a potential upside of 21.40% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada raised their price target on shares of 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. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson raised their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Stephens decreased their price target on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Zions Bancorporation, N.A. from $75.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, October 1st. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and an average price target of $71.59.

Zions Bancorporation, N.A. Trading Down 0.7%

Shares of ZION stock opened at $61.78 on Thursday. The company has a 50 day moving average of $66.66 and a 200-day moving average of $65.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34. The firm has a market cap of $9.02 billion, a P/E ratio of 7.87, a PEG ratio of 1.02 and a beta of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $877.44 million. During the same quarter last year, the business posted $1.63 EPS. Zions Bancorporation, N.A.’s quarterly revenue was up 35.7% compared to the same quarter last year. Sell-side analysts anticipate that Zions Bancorporation, N.A. will post 6.60 earnings per share for the current year.

Zions Bancorporation, N.A. declared that its board has authorized a share repurchase plan on Thursday, July 30th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the bank to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Scott A. 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 value of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares in the company, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott J. Mclean sold 33,285 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 $70.63, for a total transaction of $2,350,919.55. Following the completion of the transaction, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 88,787 shares of company stock worth $6,283,858. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in Zions Bancorporation, N.A. by 5.2% in the 1st quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after purchasing an additional 157 shares during the period. Allworth Financial LP increased its stake in Zions Bancorporation, N.A. by 5.7% in the 2nd quarter. Allworth Financial LP now owns 2,978 shares of the bank’s stock worth $206,000 after acquiring an additional 161 shares during the last quarter. Michels Family Financial LLC increased its stake in Zions Bancorporation, N.A. by 1.5% in the 4th quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after acquiring an additional 185 shares during the last quarter. Modern Wealth Management LLC raised its holdings in shares of Zions Bancorporation, N.A. by 4.7% in the 1st quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock valued at $272,000 after acquiring an additional 209 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Zions Bancorporation, N.A. by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 40,807 shares of the bank’s stock valued at $2,823,000 after acquiring an additional 254 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Company Profile

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.