DA Davidson Brokers Increase Earnings Estimates for Zions Bancorporation, National Association (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) – Investment analysts at DA Davidson lifted their Q2 2024 earnings per share estimates for Zions Bancorporation, National Association in a report released on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the bank will earn $1.12 per share for the quarter, up from their prior estimate of $1.09. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.37 per share. DA Davidson also issued estimates for Zions Bancorporation, National Association’s FY2025 earnings at $4.72 EPS.

A number of other research firms have also issued reports on ZION. Truist Financial restated a “hold” rating and set a $46.00 price objective on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. UBS Group cut their target price on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They set a “hold” rating and a $47.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.82.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $43.97 on Monday. The company has a market cap of $6.49 billion, a P/E ratio of 11.05, a PEG ratio of 4.99 and a beta of 1.11. The business has a 50 day moving average of $42.55 and a two-hundred day moving average of $41.94. Zions Bancorporation, National Association has a 52 week low of $26.69 and a 52 week high of $46.15. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.01.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.02). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same period in the prior year, the company posted $1.33 earnings per share.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 16th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.73%. Zions Bancorporation, National Association’s payout ratio is currently 41.21%.

Insider Activity at Zions Bancorporation, National Association

In related news, EVP Rebecca K. Robinson sold 5,291 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the sale, the executive vice president now directly owns 22,238 shares in the company, valued at $970,911.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $43.68, for a total value of $65,520.00. Following the transaction, the chief executive officer now owns 22,181 shares in the company, valued at approximately $968,866.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Rebecca K. Robinson sold 5,291 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $43.66, for a total transaction of $231,005.06. Following the completion of the transaction, the executive vice president now directly owns 22,238 shares in the company, valued at $970,911.08. The disclosure for this sale can be found here. Insiders sold a total of 7,296 shares of company stock valued at $319,192 over the last ninety days. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of Zions Bancorporation, National Association during the 1st quarter worth $27,000. Federated Hermes Inc. increased its position in Zions Bancorporation, National Association by 105.4% during the fourth quarter. Federated Hermes Inc. now owns 645 shares of the bank’s stock worth $28,000 after buying an additional 331 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Zions Bancorporation, National Association in the fourth quarter worth about $29,000. Quarry LP bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth about $49,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Zions Bancorporation, National Association by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,121 shares of the bank’s stock valued at $49,000 after acquiring an additional 372 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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.