Zions Bancorporation, National Association (NASDAQ:ZION) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Zions Bancorporation, National Association (NASDAQ:ZION) posted its quarterly earnings results on Monday. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.18, Briefing.com reports. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $761.61 million. During the same quarter in the prior year, the company posted $1.11 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis.

Zions Bancorporation, National Association Stock Up 1.0 %

NASDAQ:ZION traded up $0.50 during midday trading on Monday, hitting $49.48. 2,409,495 shares of the company were exchanged, compared to its average volume of 2,375,388. Zions Bancorporation, National Association has a fifty-two week low of $28.90 and a fifty-two week high of $51.24. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $7.31 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 4.99 and a beta of 1.11. The company has a fifty day simple moving average of $43.51 and a 200 day simple moving average of $42.18.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.64 annualized dividend and a yield of 3.31%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now directly owns 22,181 shares of the company’s stock, valued at approximately $968,866.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now directly owns 22,181 shares of the company’s stock, valued at approximately $968,866.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca K. Robinson sold 5,291 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.66, for a total transaction of $231,005.06. Following the transaction, the executive vice president now directly owns 22,238 shares in the company, valued at $970,911.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,296 shares of company stock valued at $319,192. Insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They set a “hold” rating and a $47.00 price objective for the company. Evercore ISI increased their price objective on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Jefferies Financial Group lowered their price objective on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Truist Financial reaffirmed a “hold” rating and set a $46.00 price objective on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. Finally, Royal Bank of Canada increased their price objective on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, National Association presently has an average rating of “Hold” and an average price target of $43.88.

About Zions Bancorporation, National Association

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.