DA Davidson Has Positive Outlook of ZION FY2024 Earnings

Zions Bancorporation, National Association (NASDAQ:ZION) – DA Davidson boosted their FY2024 earnings estimates for shares of Zions Bancorporation, National Association in a report released on Wednesday, October 23rd. DA Davidson analyst P. Winter now expects that the bank will post earnings per share of $4.83 for the year, up from their prior estimate of $4.63. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.60 per share. DA Davidson also issued estimates for Zions Bancorporation, National Association’s FY2025 earnings at $4.91 EPS.

Several other research firms have also recently commented on ZION. Robert W. Baird boosted their price target on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. Barclays raised their price target on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 22nd. Stephens increased their price target on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price target on shares of Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.82.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION opened at $51.34 on Friday. Zions Bancorporation, National Association has a 52-week low of $28.98 and a 52-week high of $53.32. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.84. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The company has a 50 day simple moving average of $48.07 and a 200-day simple moving average of $45.50.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same quarter last year, the firm posted $1.13 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Zions Bancorporation, National Association in the first quarter worth about $27,000. ORG Wealth Partners LLC acquired a new position in shares of Zions Bancorporation, National Association in the 3rd quarter worth approximately $28,000. ORG Partners LLC bought a new position in shares of Zions Bancorporation, National Association during the 2nd quarter worth approximately $33,000. International Assets Investment Management LLC bought a new position in shares of Zions Bancorporation, National Association during the 2nd quarter worth approximately $34,000. Finally, Rothschild Investment LLC acquired a new stake in Zions Bancorporation, National Association in the 2nd quarter valued at $39,000. 76.84% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the sale, the vice president now directly owns 17,857 shares of the company’s stock, valued at $925,528.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.22% of the stock is owned by company insiders.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.19%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 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.