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

by · The Markets Daily

Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) released its quarterly earnings data on Tuesday. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08, Briefing.com reports. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787,704.90 billion. During the same quarter in the previous year, the business posted $0.78 EPS. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% on a year-over-year basis.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION traded up $0.99 during mid-day trading on Tuesday, reaching $59.03. The company had a trading volume of 2,065,547 shares, compared to its average volume of 1,262,472. Zions Bancorporation, National Association has a one year low of $37.76 and a one year high of $63.22. The business’s 50-day simple moving average is $57.26 and its 200 day simple moving average is $51.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 3.11 and a beta of 1.12.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 2.91%. 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. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Wall Street Analyst Weigh In

ZION has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Truist Financial boosted their price objective on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised shares of 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 report on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus target price of $58.25.

View Our Latest Analysis on Zions Bancorporation, National Association

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value 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. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the transaction, the vice president now owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This represents a 3.34 % 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 over the last ninety days. Corporate insiders own 2.22% of the company’s stock.

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.

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