DA Davidson Research Analysts Boost Earnings Estimates for Zions Bancorporation, National Association (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) – Investment analysts at DA Davidson increased their Q2 2024 earnings per share (EPS) estimates for shares of Zions Bancorporation, National Association in a research report issued to clients and investors on Thursday, June 27th. DA Davidson analyst P. Winter now expects that the bank will earn $1.12 per share for the quarter, up from their prior estimate of $1.09. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.37 per share. DA Davidson also issued estimates for Zions Bancorporation, National Association’s FY2025 earnings at $4.72 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $747.21 million. During the same quarter last year, the company posted $1.33 EPS.

Other analysts also recently issued research reports about the company. Royal Bank of Canada upped their price target on Zions Bancorporation, National Association from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group cut their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. StockNews.com upgraded Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They issued a “hold” rating and a $47.00 price target on the stock. Finally, UBS Group cut their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.82.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock opened at $43.37 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $6.40 billion, a P/E ratio of 10.90, a PEG ratio of 4.98 and a beta of 1.11. The stock’s 50 day moving average is $42.47 and its 200 day moving average is $41.95. Zions Bancorporation, National Association has a twelve month low of $26.69 and a twelve month high of $46.15.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of ZION. Treasurer of the State of North Carolina raised its holdings in Zions Bancorporation, National Association by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 63,896 shares of the bank’s stock valued at $2,229,000 after acquiring an additional 330 shares during the period. Bank of Nova Scotia raised its holdings in Zions Bancorporation, National Association by 12.3% during the third quarter. Bank of Nova Scotia now owns 10,295 shares of the bank’s stock valued at $359,000 after acquiring an additional 1,128 shares during the period. Toronto Dominion Bank raised its holdings in Zions Bancorporation, National Association by 11.5% during the third quarter. Toronto Dominion Bank now owns 43,732 shares of the bank’s stock valued at $1,526,000 after acquiring an additional 4,511 shares during the period. AQR Capital Management LLC raised its holdings in Zions Bancorporation, National Association by 25.6% during the third quarter. AQR Capital Management LLC now owns 213,518 shares of the bank’s stock valued at $7,450,000 after acquiring an additional 43,572 shares during the period. Finally, Glenmede Trust Co. NA bought a new stake in Zions Bancorporation, National Association during the third quarter valued at about $351,000. 76.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, 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 value of $231,005.06. Following the transaction, the executive vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $970,911.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Alan M. Forney sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.68, for a total value 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 SEC, which is available through 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 value of $231,005.06. Following the completion of 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. 2.22% of the stock is owned by company insiders.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.78%. Zions Bancorporation, National Association’s payout ratio is 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.