Zions Bancorporation National Association [ZION] Stock trading around $55.83 per share: What’s Next?

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Zions Bancorporation National Association [NASDAQ: ZION] closed the trading session at $55.83 on 04/26/22. The day’s price range saw the stock hit a low of $55.05, while the highest price level was $58.42. The company report on April 25, 2022 that Zions Bancorporation, National Association Reports First Quarter Financial Results.

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Zions Bancorporation, N.A. (NASDAQ: ZION) (“Zions” or “the Bank”) today reported net earnings applicable to common shareholders for the first quarter of 2022 of $195 million, or $1.27 per diluted common share, compared with net earnings applicable to common shareholders of $314 million, or $1.90 per diluted common share, for the first quarter of 2021, and net earnings applicable to common shareholders of $207 million, or $1.34 per diluted common share, for the fourth quarter of 2021.

Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “The first quarter results included $1.2 billion of growth in average non-PPP loans relative to the prior quarter, or an annualized growth rate of over 10%, and annualized growth rate of net interest income excluding PPP income of over 17%. Credit quality continued to show strength, with net charge-offs equaling an annualized 0.05% of average loans and a sequential quarter decline in nonaccrual loans of 7%, which were contributing factors in the reduction of the allowance for credit losses.”.

The stocks have a year to date performance of -11.61 percent and weekly performance of -14.80 percent. The stock has been moved at -15.56 percent over the last six months. The stock has performed -21.45 percent around the most recent 30 days and changed -16.02 percent over the most recent 3-months.

If compared to the average trading volume of 1.63M shares, ZION reached to a volume of 4341021 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $74.50 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 2.50. 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.

Raymond James have made an estimate for Zions Bancorporation National Association shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on April 26, 2022. The new note on the price target was released on April 18, 2022, representing the official price target for Zions Bancorporation National Association stock. Previously, the target price had yet another raise to $77, while B. Riley Securities analysts kept a Neutral rating on ZION stock. On February 14, 2022, analysts increased their price target for ZION shares from 70 to 87.

The Average True Range (ATR) for Zions Bancorporation National Association is set at 2.46, with the Price to Sales ratio for ZION stock in the period of the last 12 months amounting to 4.02. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 87.27. Price to Free Cash Flow for ZION in the course of the last twelve months was 56.21.

ZION stock trade performance evaluation

Zions Bancorporation National Association [ZION] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.80. With this latest performance, ZION shares dropped by -21.45% in over the last four-week period, additionally sinking by -15.56% over the last 6 months – not to mention a rise of 1.23% 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 27.99, with the RSI for the last a single of trading hit 21.71, and the three-weeks RSI is set at 32.85 for Zions Bancorporation National Association [ZION]. The present Moving Average for the last 50 days of trading for this stock 66.44, while it was recorded at 61.02 for the last single week of trading, and 62.76 for the last 200 days.

Zions Bancorporation National Association [ZION]: An insightful look at the core 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 +48.92. Zions Bancorporation National Association’s Net Margin is presently recorded at +37.79.

Return on Equity for this stock inclined to 14.55, with Return on Assets sitting at 1.28.

Zions Bancorporation National Association [ZION]: Insider Ownership positions

There are presently around $7,664 million, or 84.20% of ZION stock, in the hands of institutional investors. The top three institutional holders of ZION stocks are: VANGUARD GROUP INC with ownership of 18,399,658, which is approximately -2.918% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 10,548,560 shares of the stock with an approximate value of $644.41 million in ZION stocks shares; and STATE STREET CORP, currently with $509.31 million in ZION stock with ownership of nearly -2.144% of the company’s market capitalization.

Positions in Zions Bancorporation National Association stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 228 institutional holders increased their position in Zions Bancorporation National Association [NASDAQ:ZION] by around 6,675,086 shares. Additionally, 233 investors decreased positions by around 12,852,511 shares, while 69 investors held positions by with 105,924,343 shares. The mentioned changes placed institutional holdings at 125,451,940 shares, according to the latest SEC report filing. ZION stock had 88 new institutional investments in for a total of 3,085,006 shares, while 41 institutional investors sold positions of 651,438 shares during the same period.