Zions Bancorporation, National Association (NASDAQ:ZION) Releases Earnings Results, Beats Estimates By $0.04 EPS

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) announced its quarterly earnings data on Monday. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04, Zacks reports. The business had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same quarter in the previous year, the business earned $0.96 earnings per share.

Zions Bancorporation, National Association Trading Up 1.4 %

Shares of ZION traded up $0.63 during trading hours on Thursday, reaching $44.95. 491,495 shares of the company traded hands, compared to its average volume of 1,572,588. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.61 and a beta of 0.92. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22. The stock's fifty day moving average price is $48.47 and its 200 day moving average price is $53.30. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.83%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's dividend payout ratio (DPR) is presently 34.75%.

Wall Street Analysts Forecast Growth

ZION has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research report on Tuesday. Barclays increased their price objective on shares of Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an "underweight" rating in a research note on Wednesday, January 22nd. DA Davidson upped their price target on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $59.00.

Insider Buying and Selling

In other news, EVP Steven Dan Stephens sold 10,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the transaction, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the sale, the executive vice president now owns 29,313 shares of the company's stock, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,029 shares of company stock valued at $1,855,321 in the last 90 days. Company insiders own 2.22% of the company's stock.

Zions Bancorporation, National Association announced that its board has authorized a stock repurchase program on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

About Zions Bancorporation, National Association

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.