Zions Bancorporation N.A [ZION] stock Downgrade by Truist analyst, price target now $46

Zions Bancorporation N.A [NASDAQ: ZION] loss -5.72% on the last trading session, reaching $41.90 price per share at the time. The company report on January 22, 2024 at 4:10 PM that Zions Bancorporation, National Association Reports Fourth Quarter Financial Results.

Zions Bancorporation, N.A. (NASDAQ: ZION) (“Zions” or “the Bank”) today reported net earnings applicable to common shareholders for the fourth quarter of 2023 of $116 million, or $0.78 per diluted common share, compared with net earnings applicable to common shareholders of $277 million, or $1.84 per diluted common share, for the fourth quarter of 2022, and net earnings applicable to common shareholders of $168 million, or $1.13 per diluted common share, for the third quarter of 2023.

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Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “Fourth quarter operating results reflect the Bank’s resiliency, with strong quarter-over-quarter customer deposit growth of $1.7 billion, loan growth of $0.9 billion, a stable net interest margin and continued strengthening of the Bank’s capital position. Operating expenses, excluding a one-time $90 million FDIC special assessment related to the bank failures in early 2023, continued to be well managed.”.

If compared to the average trading volume of 2.32M shares, ZION reached a trading volume of 4657296 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Zions Bancorporation N.A [ZION]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZION shares is $45.77 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 3.12. 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.

Truist have made an estimate for Zions Bancorporation N.A shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 05, 2024.

The Average True Range (ATR) for Zions Bancorporation N.A is set at 1.61, with the Price to Sales ratio for ZION stock in the period of the last 12 months amounting to 1.34. The Price to Book ratio for the last quarter was 1.18. Price to Free Cash Flow for ZION in the course of the last twelve months was 6.07.

Trading performance analysis for ZION stock

Zions Bancorporation N.A [ZION] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.07. With this latest performance, ZION shares dropped by -4.49% in over the last four-week period, additionally plugging by 12.94% over the last 6 months – not to mention a drop of -19.78% 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 46.89, with the RSI for the last a single of trading hit 41.73, and the three-weeks RSI is set at 50.16 for Zions Bancorporation N.A [ZION]. The present Moving Average for the last 50 days of trading for this stock 41.04, while it was recorded at 43.92 for the last single week of trading, and 34.15 for the last 200 days.

Zions Bancorporation N.A [ZION]: A deeper dive into fundamental analysis

Zions Bancorporation N.A’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.10.

Zions Bancorporation N.A [ZION]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Zions Bancorporation N.A posted 1.33/share EPS, while the average EPS was predicted by analysts to be reported at 1.53/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -13.10%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Zions Bancorporation N.A go to 4.83%.

An analysis of Institutional ownership at Zions Bancorporation N.A [ZION]

The top three institutional holders of ZION stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ZION stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ZION stock with ownership which is approximately 5.8325%.