Zacks Research Has Strong Estimate for ZION FY2024 Earnings

Zions Bancorporation, National Association (NASDAQ:ZION - Free Report) - Stock analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of Zions Bancorporation, National Association in a report released on Thursday, January 16th. Zacks Research analyst R. Department now expects that the bank will post earnings per share of $4.81 for the year, up from their prior forecast of $4.80. The consensus estimate for Zions Bancorporation, National Association's current full-year earnings is $4.85 per share. Zacks Research also issued estimates for Zions Bancorporation, National Association's Q4 2024 earnings at $1.20 EPS and Q4 2025 earnings at $1.27 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its earnings results 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 return on equity of 13.89% and a net margin of 14.09%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $781.63 million. During the same period last year, the business posted $1.13 earnings per share.

A number of other analysts have also commented on the company. Morgan Stanley increased their price objective on Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 22nd. Evercore ISI increased their target price on shares of Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Compass Point increased their target price on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $58.25.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock traded up $0.76 during mid-day trading on Monday, hitting $58.04. 1,200,633 shares of the stock were exchanged, compared to its average volume of 1,173,647. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 2.86 and a beta of 1.12. The stock's fifty day simple moving average is $57.30 and its two-hundred day simple moving average is $51.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22.

Zions Bancorporation, National Association Increases Dividend

The business also recently disclosed 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 is an increase from Zions Bancorporation, National Association's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.96%. Zions Bancorporation, National Association's dividend payout ratio (DPR) is 39.18%.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Paul E. Burdiss sold 9,506 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total value of $580,436.36. Following the completion of the sale, the executive vice president now directly owns 86,232 shares of the company's stock, valued at approximately $5,265,325.92. This represents a 9.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the sale, the executive vice president now directly owns 24,714 shares of the company's stock, valued at $1,321,210.44. This 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 quarter. Company insiders own 2.22% of the company's stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Large investors have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Zions Bancorporation, National Association by 14.6% in the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank's stock worth $332,515,000 after buying an additional 896,889 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Zions Bancorporation, National Association by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank's stock worth $221,367,000 after acquiring an additional 140,084 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Zions Bancorporation, National Association by 25.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank's stock worth $126,762,000 after acquiring an additional 538,049 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank's stock valued at $124,592,000 after acquiring an additional 30,030 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Zions Bancorporation, National Association by 75.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank's stock worth $43,294,000 after purchasing an additional 433,513 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

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.