Analyst Nicholas Holowko from UBS maintained a Hold rating on Zions Bancorporation National Association and decreased the price target to $57.00 from $63.00.
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Nicholas Holowko has given his Hold rating due to a combination of factors affecting Zions Bancorporation National Association. The company reported a solid quarter, with strong pre-provision net revenue trends and better-than-expected margin expansion, fee income, and deposit trends. However, a recent credit charge-off tied to Cantor raised concerns, although management considers it an isolated incident.
Looking forward, Holowko is cautious about the ongoing third-party review on the credit front and the potential for continued positive operating leverage. While Zions shows potential for long-term net interest margin expansion, the near-term outlook remains uncertain. Consequently, the Hold rating reflects a balanced view of the company’s strengths and the challenges it faces, with a price target adjusted downward to $57 due to credit sensitivity.
In another report released on October 23, Bank of America Securities also upgraded the stock to a Hold with a $62.00 price target.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZION in relation to earlier this year.