Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) – Investment analysts at DA Davidson boosted their FY2022 earnings per share estimates for Zions Bancorporation, National Association in a research report issued to clients and investors on Thursday, June 30th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $5.86 for the year, up from their previous forecast of $5.51. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $5.61 per share.
A number of other equities research analysts also recently commented on ZION. The Goldman Sachs Group reduced their price objective on shares of Zions Bancorporation, National Association from $75.00 to $61.50 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. Truist Financial set a $65.00 price target on shares of Zions Bancorporation, National Association in a research report on Wednesday, June 15th. Raymond James downgraded Zions Bancorporation, National Association from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, April 26th. Wolfe Research lowered their price objective on shares of Zions Bancorporation, National Association from $72.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Finally, B. Riley lowered their price objective on shares of Zions Bancorporation, National Association from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.79.
NASDAQ ZION opened at $51.38 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.12. Zions Bancorporation, National Association has a 52-week low of $47.06 and a 52-week high of $75.44. The business’s 50-day moving average price is $54.58 and its 200-day moving average price is $62.56. The firm has a market cap of $7.78 billion, a P/E ratio of 8.37, a P/E/G ratio of 8.06 and a beta of 1.29.
Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last issued its quarterly earnings data on Monday, April 25th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.12. Zions Bancorporation, National Association had a return on equity of 14.53% and a net margin of 34.40%. The company had revenue of $694.00 million for the quarter, compared to analyst estimates of $700.11 million. During the same quarter last year, the company posted $1.90 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of ZION. Insight Wealth Strategies LLC lifted its stake in Zions Bancorporation, National Association by 10.6% in the second quarter. Insight Wealth Strategies LLC now owns 23,848 shares of the bank’s stock worth $1,214,000 after acquiring an additional 2,287 shares during the period. JW Cole Advisors Inc. purchased a new position in Zions Bancorporation, National Association in the first quarter worth about $336,000. Bank of America Corp DE boosted its position in Zions Bancorporation, National Association by 3.9% in the first quarter. Bank of America Corp DE now owns 1,012,772 shares of the bank’s stock worth $66,397,000 after purchasing an additional 38,396 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Zions Bancorporation, National Association by 2,560.0% during the 1st quarter. Verition Fund Management LLC now owns 125,953 shares of the bank’s stock valued at $8,257,000 after buying an additional 121,218 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Zions Bancorporation, National Association by 50.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,544 shares of the bank’s stock valued at $1,413,000 after purchasing an additional 7,192 shares during the period. 82.24% of the stock is owned by institutional investors and hedge funds.
In related news, SVP James R. Abbott purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were bought at an average cost of $57.03 per share, with a total value of $570,300.00. Following the acquisition, the senior vice president now owns 77,918 shares of the company’s stock, valued at $4,443,663.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott A. Law sold 713 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $54.16, for a total transaction of $38,616.08. Following the completion of the transaction, the executive vice president now directly owns 19,424 shares in the company, valued at $1,052,003.84. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.
Zions Bancorporation, National Association declared that its board has initiated a share repurchase program on Friday, April 29th that allows the company to buy back $50.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 0.6% of its shares through open market purchases. Share buyback programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 19th were paid a dividend of $0.38 per share. The ex-dividend date was Wednesday, May 18th. This represents a $1.52 dividend on an annualized basis and a yield of 2.96%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 24.76%.
Zions Bancorporation, National Association Company Profile (Get Rating)
Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.
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