Wedbush Comments on Zions Bancorporation, National Association’s FY2024 Earnings (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) – Equities researchers at Wedbush increased their FY2024 earnings estimates for Zions Bancorporation, National Association in a research report issued to clients and investors on Tuesday, July 23rd. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $4.45 per share for the year, up from their prior forecast of $4.27. Wedbush currently has a “Neutral” rating and a $52.00 target price on the stock. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.43 per share. Wedbush also issued estimates for Zions Bancorporation, National Association’s Q4 2024 earnings at $1.09 EPS and Q1 2025 earnings at $0.98 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, July 22nd. The bank reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. The business had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS.

A number of other equities research analysts also recently issued reports on the company. StockNews.com upgraded Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Truist Financial increased their price target on shares of Zions Bancorporation, National Association from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group cut their price objective on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Evercore ISI raised their target price on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada boosted their price target on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the company a “sector perform” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and an average target price of $48.06.

Zions Bancorporation, National Association Stock Up 1.6 %

Zions Bancorporation, National Association stock opened at $51.80 on Friday. Zions Bancorporation, National Association has a one year low of $28.90 and a one year high of $53.32. The stock has a fifty day moving average of $44.04 and a 200 day moving average of $42.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.78. The stock has a market cap of $7.65 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 5.11 and a beta of 1.11.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Zions Bancorporation, National Association by 55.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,262 shares of the bank’s stock valued at $2,644,000 after acquiring an additional 21,551 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Zions Bancorporation, National Association by 119.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock worth $101,396,000 after purchasing an additional 1,259,571 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Zions Bancorporation, National Association by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,746,184 shares of the bank’s stock worth $164,345,000 after purchasing an additional 27,934 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $1,268,000. Finally, Retirement Systems of Alabama grew its stake in shares of Zions Bancorporation, National Association by 469.8% during the first quarter. Retirement Systems of Alabama now owns 186,038 shares of the bank’s stock valued at $8,074,000 after buying an additional 153,387 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Insider Activity at Zions Bancorporation, National Association

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