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

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) announced its quarterly earnings results on Monday. The bank reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.18, MarketWatch Earnings reports. The company had revenue of $988.00 million for the quarter, compared to analyst estimates of $873.05 million. Zions Bancorporation, National Association had a net margin of 27.18% and a return on equity of 17.78%. During the same quarter last year, the business earned $1.34 EPS.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $51.77 on Wednesday. The firm’s 50-day simple moving average is $49.65 and its 200 day simple moving average is $52.20. The stock has a market cap of $7.75 billion, a P/E ratio of 9.77, a P/E/G ratio of 2.75 and a beta of 1.15. Zions Bancorporation, National Association has a fifty-two week low of $45.21 and a fifty-two week high of $75.44. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th were given a $0.41 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.17%. Zions Bancorporation, National Association’s payout ratio is currently 30.94%.

Insider Activity

In other Zions Bancorporation, National Association news, VP Thomas E. Laursen sold 880 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $51.79, for a total transaction of $45,575.20. Following the sale, the vice president now owns 27,007 shares in the company, valued at approximately $1,398,692.53. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP James R. Abbott purchased 2,000 shares of Zions Bancorporation, National Association stock in a transaction dated Thursday, November 17th. The stock was acquired at an average cost of $50.45 per share, for a total transaction of $100,900.00. Following the acquisition, the senior vice president now directly owns 79,918 shares in the company, valued at $4,031,863.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas E. Laursen sold 880 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $51.79, for a total value of $45,575.20. Following the completion of the sale, the vice president now directly owns 27,007 shares of the company’s stock, valued at approximately $1,398,692.53. The disclosure for this sale can be found here. Insiders sold a total of 18,032 shares of company stock worth $905,391 over the last 90 days. 1.81% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Large investors have recently added to or reduced their stakes in the business. Industrial Alliance Investment Management Inc. bought a new position in Zions Bancorporation, National Association during the third quarter valued at about $177,000. Captrust Financial Advisors raised its position in shares of Zions Bancorporation, National Association by 611.9% in the third quarter. Captrust Financial Advisors now owns 164,829 shares of the bank’s stock valued at $8,383,000 after purchasing an additional 141,675 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Zions Bancorporation, National Association by 4.3% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,392 shares of the bank’s stock valued at $274,000 after buying an additional 221 shares during the last quarter. Kentucky Retirement Systems raised its holdings in Zions Bancorporation, National Association by 4.9% in the 3rd quarter. Kentucky Retirement Systems now owns 11,779 shares of the bank’s stock worth $599,000 after acquiring an additional 545 shares during the period. Finally, BNP Paribas Arbitrage SNC lifted its position in Zions Bancorporation, National Association by 16.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 190,005 shares of the bank’s stock worth $9,664,000 after acquiring an additional 27,510 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. DA Davidson upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, December 20th. They noted that the move was a valuation call. Wolfe Research cut shares of Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 2nd. Wedbush decreased their price objective on shares of Zions Bancorporation, National Association from $61.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, October 25th. StockNews.com started coverage on shares of Zions Bancorporation, National Association in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Stephens decreased their price target on shares of Zions Bancorporation, National Association from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 25th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $59.92.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a stock repurchase plan on Friday, October 28th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 0.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Company Profile

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Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.