Vining Sparks Maintains Their Buy Rating on Zions Bancorporation National Association (ZION)

By Ryan Adsit

In a report released today, Marty Mosby from Vining Sparks maintained a Buy rating on Zions Bancorporation National Association (ZIONResearch Report), with a price target of $63. The company’s shares opened today at $48.60.

Mosby commented:

“We believe ZION could continue to produce one of the strongest improvements in its ROTCE, as it can still accelerate its deployment of excess capital, generate further positive operating leverage, and utilize its higher concentration of noninterest bearing deposits to grow NII. Thus, we have maintained our “Strong Buy” rating with the thought that ZION ’s P/TBV should improve back toward 185%, as higher returns are sustained.”

According to TipRanks.com, Mosby is a 5-star analyst with an average return of 11.9% and a 61.1% success rate. Mosby covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc, Fifth Third Bancorp, and Regions Financial.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zions Bancorporation National Association with a $54.33 average price target, representing an 11.8% upside. In a report issued on January 10, Barclays also maintained a Buy rating on the stock with a $57 price target.

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Zions Bancorporation National Association’s market cap is currently $9.25B and has a P/E ratio of 13.53. The company has a Price to Book ratio of 1.32.

Based on the recent corporate insider activity of 161 insiders, corporate insider sentiment is negative on the stock.

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.