Wednesday, November 25, 2020

Zions Bancorporation National Association [ZION] Stock trading around $32.25 per share: What’s Next?

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Zions Bancorporation National Association [NASDAQ: ZION] stock went on an upward path that rose over 7.29% on Thursday, amounting to a one-week price increase of more than 3.46%. The company report on October 20, 2020 that Zions Bancorporation, National Association Reports Third Quarter Financial Results.

Zions Bancorporation, N.A. (NASDAQ: ZION) (“Zions” or “the Bank”) today reported net earnings applicable to common shareholders for the third quarter of 2020 of $167 million, or $1.01 per diluted common share, compared with net earnings applicable to common shareholders of $214 million, or $1.17 per diluted common share, for the third quarter of 2019 and net earnings applicable to common shareholders of $57 million, or $0.34 per diluted common share, for the second quarter of 2020.


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Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “Despite the headwinds of a challenging interest rate and credit environment, we are pleased with many aspects of the Bank’s third quarter performance. We’re particularly pleased by the resilience demonstrated by our customers in the face of the coronavirus pandemic. Approximately 9% of our borrowers availed themselves of loan modifications or short-term deferrals earlier this year, with 88% of deferred loans having completed the deferral period before August 1. At quarter-end, a mere 1.0% of those loans were delinquent 30 days or more, with an additional 0.2% having been charged off. Additionally, annualized net charge-offs for the entire loan portfolio were a very manageable 0.38%.”.

Over the last 12 months, ZION stock dropped by -32.73%. The one-year Zions Bancorporation National Association stock forecast points to a potential upside of 10.99. The average equity rating for ZION stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.29 billion, with 163.54 million shares outstanding and 161.47 million shares in the current float. Compared to the average trading volume of 1.55M shares, ZION stock reached a trading volume of 2436622 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Zions Bancorporation National Association [ZION]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZION shares is $36.23 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZION stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Zions Bancorporation National Association shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on July 31, 2020. The new note on the price target was released on May 20, 2020, representing the official price target for Zions Bancorporation National Association stock. Previously, the target price had yet another drop from $39 to $33, while B. Riley FBR kept a Neutral rating on ZION stock.

The Average True Range (ATR) for Zions Bancorporation National Association is set at 1.23, with the Price to Sales ratio for ZION stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 20.64. Price to Free Cash Flow for ZION in the course of the last twelve months was 11.19.

ZION Stock Performance Analysis:

Zions Bancorporation National Association [ZION] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.46. With this latest performance, ZION shares gained by 14.16% in over the last four-week period, additionally plugging by 9.47% over the last 6 months – not to mention a drop of -32.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZION stock in for the last two-week period is set at 57.11, with the RSI for the last a single of trading hit 61.81, and the three-weeks RSI is set at 54.38 for Zions Bancorporation National Association [ZION]. The present Moving Average for the last 50 days of trading for this stock 31.41, while it was recorded at 30.84 for the last single week of trading, and 34.24 for the last 200 days.

Insight into Zions Bancorporation National Association Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Zions Bancorporation National Association [ZION] shares currently have an operating margin of +38.06. Zions Bancorporation National Association’s Net Margin is presently recorded at +25.15.

Return on Total Capital for ZION is now 9.75, given the latest momentum, and Return on Invested Capital for the company is 9.26. Return on Equity for this stock inclined to 10.93, with Return on Assets sitting at 1.18. When it comes to the capital structure of this company, Zions Bancorporation National Association [ZION] has a Total Debt to Total Equity ratio set at 54.70. Additionally, ZION Total Debt to Total Capital is recorded at 35.36, with Total Debt to Total Assets ending up at 5.81. Long-Term Debt to Equity for the company is recorded at 29.01, with the Long-Term Debt to Total Capital now at 17.31.

Reflecting on the efficiency of the workforce at the company, Zions Bancorporation National Association [ZION] managed to generate an average of $80,094 per employee.

ZION Stock EPS

With the latest financial reports released by the company, Zions Bancorporation National Association posted 1.17/share EPS, while the average EPS was predicted by analysts to be reported at 1.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ZION.

Zions Bancorporation National Association [ZION] Insider Position Details

There are presently around $4,651 million, or 91.30% of ZION stock, in the hands of institutional investors. The top three institutional holders of ZION stocks are: VANGUARD GROUP INC with ownership of 19,747,987, which is approximately -5.269% of the company’s market cap and around 0.90% of the total institutional ownership; BLACKROCK INC., holding 12,471,473 shares of the stock with an approximate value of $402.2 million in ZION stocks shares; and INVESCO LTD., currently with $333.16 million in ZION stock with ownership of nearly -1.831% of the company’s market capitalization.

Positions in Zions Bancorporation National Association stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 174 institutional holders increased their position in Zions Bancorporation National Association [NASDAQ:ZION] by around 8,932,201 shares. Additionally, 248 investors decreased positions by around 16,666,232 shares, while 48 investors held positions by with 118,618,510 shares. The mentioned changes placed institutional holdings at 144,216,943 shares, according to the latest SEC report filing. ZION stock had 63 new institutional investments in for a total of 1,174,251 shares, while 64 institutional investors sold positions of 4,031,546 shares during the same period.

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