Zions Bancorporation, National Association (NASDAQ:ZION) Announces Earnings Results

Zions Bancorporation, National Association (NASDAQ:ZION) issued its earnings results on Tuesday. The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08, Briefing.com reports. Zions Bancorporation, National Association had a return on equity of 13.90% and a net margin of 15.70%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $787,704.90 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% on a year-over-year basis.

Zions Bancorporation, National Association Stock Down 1.6 %

Shares of NASDAQ:ZION opened at $58.09 on Thursday. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22. The firm’s 50 day moving average price is $57.21 and its 200 day moving average price is $51.92. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 3.16 and a beta of 1.12.

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. The ex-dividend date was Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.96%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on 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. JPMorgan Chase & Co. decreased their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Barclays raised their target price on Zions Bancorporation, National Association from $59.00 to $61.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, UBS Group initiated coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus target price of $60.71.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the company’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of the firm’s 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 directly owns 86,232 shares in the company, valued at approximately $5,265,325.92. The trade was a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,881 shares of company stock worth $1,108,184 in the last 90 days. Corporate insiders own 2.22% of the company’s stock.

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.