Zions Bancorporation, National Association (NASDAQ:ZION) Releases Earnings Results, Beats Expectations By $0.18 EPS

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

Zions Bancorporation, National Association Trading Down 1.7 %

Shares of ZION stock opened at $51.77 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.75 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 2.75 and a beta of 1.15. The stock has a 50 day simple moving average of $49.65 and a 200 day simple moving average of $52.20. Zions Bancorporation, National Association has a 1 year low of $45.21 and a 1 year high of $75.44.

Zions Bancorporation, National Association Dividend Announcement

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

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock repurchase plan on Friday, October 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 0.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Zions Bancorporation, National Association

In related news, VP A Scott Anderson sold 14,774 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $49.82, for a total value of $736,040.68. Following the completion of the sale, the vice president now directly owns 14,530 shares in the company, valued at $723,884.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 2,378 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $52.05, for a total transaction of $123,774.90. Following the completion of the transaction, the vice president now directly owns 15,172 shares in the company, valued at $789,702.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP A Scott Anderson sold 14,774 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $49.82, for a total transaction of $736,040.68. Following the transaction, the vice president now owns 14,530 shares of the company’s stock, valued at $723,884.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,032 shares of company stock worth $905,391. Company insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

ZION has been the topic of a number of recent research reports. Compass Point lowered their target price on Zions Bancorporation, National Association to $60.00 in a research report on Thursday, October 20th. Piper Sandler reduced their price target on Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 25th. UBS Group lifted their price target on Zions Bancorporation, National Association to $65.00 in a report on Wednesday, November 16th. Stephens reduced their price target on Zions Bancorporation, National Association from $61.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, October 25th. Finally, Barclays cut Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $68.00 to $59.00 in a report on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.92.

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.