DA Davidson Has Positive Outlook for ZION FY2024 Earnings

Zions Bancorporation, National Association (NASDAQ:ZION) – Investment analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for shares of Zions Bancorporation, National Association in a report issued on Thursday, December 19th. DA Davidson analyst P. Winter now expects that the bank will earn $4.87 per share for the year, up from their previous forecast of $4.83. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.85 per share. DA Davidson also issued estimates for Zions Bancorporation, National Association’s Q4 2024 earnings at $1.29 EPS and FY2025 earnings at $5.10 EPS.

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

Several other brokerages also recently weighed in on ZION. Truist Financial raised their price target on Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised their target price on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Wolfe Research upgraded Zions Bancorporation, National Association to a “hold” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.06.

Zions Bancorporation, National Association Trading Up 2.5 %

Shares of ZION opened at $53.67 on Friday. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 5.10 and a beta of 1.10. The company has a 50-day moving average of $56.18 and a 200 day moving average of $49.58. Zions Bancorporation, National Association has a 1-year low of $37.76 and a 1-year high of $63.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CVA Family Office LLC raised its holdings in Zions Bancorporation, National Association by 0.9% in the 3rd quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock worth $1,191,000 after acquiring an additional 217 shares during the period. Abich Financial Wealth Management LLC boosted its stake in Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after buying an additional 296 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of Zions Bancorporation, National Association by 8.3% in the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock valued at $170,000 after buying an additional 299 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Zions Bancorporation, National Association by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 41,223 shares of the bank’s stock worth $1,947,000 after acquiring an additional 348 shares during the period. Finally, WBI Investments LLC boosted its position in shares of Zions Bancorporation, National Association by 3.4% during the 2nd quarter. WBI Investments LLC now owns 10,591 shares of the bank’s stock valued at $459,000 after acquiring an additional 352 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the transaction, the executive vice president now directly owns 24,714 shares in the company, valued at $1,321,210.44. This trade represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,881 shares of company stock worth $1,108,184 in the last three months. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s payout ratio is presently 39.18%.

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.