Zions Bancorporation, N.A. (NASDAQ:ZION) Announces Earnings Results

by · The Cerbat Gem

Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) posted its quarterly earnings results on Tuesday. The bank reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19, FiscalAI reports. The firm had revenue of $891.00 million for the quarter, compared to analysts’ expectations of $863.80 million. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%.

Zions Bancorporation, N.A. Trading Down 0.9%

NASDAQ:ZION traded down $0.53 on Tuesday, reaching $59.09. 2,929,423 shares of the company’s stock were exchanged, compared to its average volume of 1,539,534. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $61.57. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $56.67 and a 200-day moving average of $55.52.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.80 annualized dividend and a yield of 3.0%. Zions Bancorporation, N.A.’s dividend payout ratio is presently 32.26%.

Insider Buying and Selling at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 2,458 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $53.11, for a total transaction of $130,544.38. Following the sale, the executive vice president directly owned 27,133 shares of the company’s stock, valued at $1,441,033.63. This represents a 8.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Several institutional investors have recently modified their holdings of the business. Employees Retirement System of Texas grew its position in shares of Zions Bancorporation, N.A. by 303.7% during the third quarter. Employees Retirement System of Texas now owns 1,211 shares of the bank’s stock worth $69,000 after buying an additional 911 shares in the last quarter. Quarry LP grew its holdings in Zions Bancorporation, N.A. by 38.3% during the 3rd quarter. Quarry LP now owns 1,404 shares of the bank’s stock worth $79,000 after acquiring an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Zions Bancorporation, N.A. by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock valued at $94,000 after purchasing an additional 625 shares during the last quarter. Danske Bank A S acquired a new stake in Zions Bancorporation, N.A. in the third quarter valued at $124,000. Finally, iSAM Funds UK Ltd purchased a new stake in Zions Bancorporation, N.A. during the third quarter worth approximately $144,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analysts Set New Price Targets

ZION has been the topic of several research analyst reports. Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. UBS Group lowered their target price on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $60.00 in a report on Wednesday, November 19th. Bank of America raised Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $59.00 to $62.00 in a research note on Thursday, October 23rd. Finally, Piper Sandler reduced their target price on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.16.

Get Our Latest Analysis on Zions Bancorporation, N.A.

About Zions Bancorporation, N.A.

(Get Free Report)

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.

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