Zacks Research Has Strong Estimate for ZION FY2024 Earnings

Zions Bancorporation, National Association (NASDAQ:ZIONFree Report) – Investment analysts at Zacks Research increased their FY2024 earnings estimates for shares of Zions Bancorporation, National Association in a note issued to investors 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 previous 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:ZIONGet Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $781.63 million. During the same quarter in the prior year, the firm earned $1.13 EPS.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada increased their price target on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Wedbush raised their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Stephens boosted their target price on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods raised their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Barclays lifted their price objective on shares of Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.25.

Check Out Our Latest Stock Report on ZION

Zions Bancorporation, National Association Price Performance

Shares of Zions Bancorporation, National Association stock opened at $58.04 on Monday. The firm has a market cap of $8.57 billion, a PE ratio of 13.22, a PEG ratio of 2.86 and a beta of 1.12. The stock has a 50 day moving average of $57.26 and a 200 day moving average of $51.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Zions Bancorporation, National Association by 14.6% in the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after purchasing an additional 896,889 shares during the last quarter. Artemis Investment Management LLP boosted its stake in Zions Bancorporation, National Association by 165.0% during the third quarter. Artemis Investment Management LLP now owns 905,576 shares of the bank’s stock worth $42,761,000 after buying an additional 563,889 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after acquiring an additional 538,049 shares during the period. Wellington Management Group LLP purchased a new position in shares of Zions Bancorporation, National Association during the 3rd quarter worth approximately $24,647,000. Finally, AQR Capital Management LLC boosted its position in shares of Zions Bancorporation, National Association by 75.0% during the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after buying an additional 433,513 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insiders Place Their Bets

In other news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the sale, the vice president now directly owns 35,878 shares in the company, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’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 transaction of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,881 shares of company stock worth $1,108,184 in the last three months. Corporate insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 2.96%. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

About Zions Bancorporation, National Association

(Get Free Report)

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.

Featured Articles

Earnings History and Estimates for Zions Bancorporation, National Association (NASDAQ:ZION)

Receive News & Ratings for Zions Bancorporation National Association Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zions Bancorporation National Association and related companies with MarketBeat.com's FREE daily email newsletter.