Zions Bancorporation, National Association (NASDAQ:ZION) Forecasted to Post Q2 2024 Earnings of $1.09 Per Share

Zions Bancorporation, National Association (NASDAQ:ZION) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Zions Bancorporation, National Association in a research note issued on Tuesday, April 23rd. DA Davidson analyst P. Winter forecasts that the bank will post earnings of $1.09 per share for the quarter. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.29 per share. DA Davidson also issued estimates for Zions Bancorporation, National Association’s FY2024 earnings at $4.36 EPS and FY2025 earnings at $4.70 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 22nd. The bank reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.04). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same quarter last year, the firm earned $1.33 earnings per share.

A number of other analysts have also commented on the company. Barclays boosted their price target on Zions Bancorporation, National Association from $35.00 to $47.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Evercore ISI boosted their price target on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Compass Point reaffirmed a “neutral” rating on shares of Zions Bancorporation, National Association in a research report on Monday, January 8th. Jefferies Financial Group lowered their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They issued a “hold” rating and a $47.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $43.16.

Zions Bancorporation, National Association Stock Performance

Shares of Zions Bancorporation, National Association stock opened at $41.27 on Wednesday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 10.37 and a beta of 1.13. The stock’s 50-day moving average is $40.86 and its 200-day moving average is $39.30. Zions Bancorporation, National Association has a one year low of $18.26 and a one year high of $46.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.80.

Institutional Trading of Zions Bancorporation, National Association

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System grew its holdings in Zions Bancorporation, National Association by 10.3% during the 1st quarter. New York State Teachers Retirement System now owns 189,151 shares of the bank’s stock worth $8,209,000 after acquiring an additional 17,629 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Zions Bancorporation, National Association by 85.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,990 shares of the bank’s stock worth $2,690,000 after acquiring an additional 28,501 shares during the period. Global Retirement Partners LLC grew its holdings in Zions Bancorporation, National Association by 60.5% during the 1st quarter. Global Retirement Partners LLC now owns 9,402 shares of the bank’s stock worth $408,000 after acquiring an additional 3,545 shares during the period. Louisiana State Employees Retirement System grew its holdings in Zions Bancorporation, National Association by 373.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 42,600 shares of the bank’s stock worth $1,849,000 after acquiring an additional 33,600 shares during the period. Finally, Amalgamated Bank grew its holdings in Zions Bancorporation, National Association by 69.2% during the 1st quarter. Amalgamated Bank now owns 100,466 shares of the bank’s stock worth $4,360,000 after acquiring an additional 41,081 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zions Bancorporation, National Association

In related news, VP A Scott Anderson sold 832 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $39.24, for a total value of $32,647.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zions Bancorporation, National Association news, CEO Harris H. Simmons bought 3,600 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $38.99 per share, for a total transaction of $140,364.00. Following the completion of the purchase, the chief executive officer now directly owns 1,261,866 shares of the company’s stock, valued at $49,200,155.34. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP A Scott Anderson sold 832 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $39.24, for a total value of $32,647.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,929 shares of company stock worth $563,778. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, February 14th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 41.21%.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.