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Friday, September 22, 2023

When Will Zions Bancorporation National Association (ZION) Slow Down

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Zions Bancorporation National Association (ZION) shares are trading at higher $40.07 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $37.82.

To add more color to this target, the company’s high over the last year is $52.48 and the low is $23.58. Over the last 52 weeks, ZION is down -19.05% while the S&P 500 is up 17.45%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ZION reported a profit of $555.0 million. Zions Bancorporation National Association also saw revenues increase to $581.0 million. In addition, ZION has free cash flow of $425.0 million as of 09-2020.

ZION booked profit margins of 16.40%, its Return on Equity (ROE) is 5.80%, and its Return on Assets is 0.50%. All told, it is clear that, ZION needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ZION has a short ratio of 3.04 and outstanding shares of 163.61M.

Company Outlook

ZION has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 4.32 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.36. Investors should also keep an eye on sector updates as ZION has historically followed its peers on positive news.

All told, Zions Bancorporation National Association ZION has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ZION represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Zions Bancorporation National Association ZION is now commanding a market cap of 6.82B and a float of 161.50M. ZION is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ZION stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ZION, either long or short, and we have not been compensated for this article.

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