DA Davidson Has Strong Estimate for ZION FY2024 Earnings

Zions Bancorporation, National Association (NASDAQ:ZION) – Equities researchers at DA Davidson increased their FY2024 earnings per share estimates for shares of Zions Bancorporation, National Association in a report released on Wednesday, October 23rd. DA Davidson analyst P. Winter now expects that the bank will earn $4.83 per share for the year, up from their previous forecast of $4.63. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.60 per share. DA Davidson also issued estimates for Zions Bancorporation, National Association’s FY2025 earnings at $4.91 EPS.

A number of other analysts also recently commented on ZION. Barclays boosted their price objective on shares of Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of Zions Bancorporation, National Association from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Argus lowered shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price target on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Robert W. Baird lifted their price target on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $52.82.

Zions Bancorporation, National Association Trading Down 1.6 %

NASDAQ:ZION opened at $51.34 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.78 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $7.58 billion, a PE ratio of 12.90, a P/E/G ratio of 1.93 and a beta of 1.09. The stock’s 50 day moving average price is $48.07 and its 200 day moving average price is $45.50. Zions Bancorporation, National Association has a 52-week low of $28.98 and a 52-week high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $781.63 million. During the same quarter in the prior year, the company earned $1.13 earnings per share.

Zions Bancorporation, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 41.21%.

Insider Transactions at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, VP Bruce K. Alexander sold 5,156 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $51.83, for a total value of $267,235.48. Following the sale, the vice president now owns 17,857 shares in the company, valued at approximately $925,528.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Zions Bancorporation, National Association during the third quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new stake in Zions Bancorporation, National Association during the first quarter valued at approximately $27,000. ORG Partners LLC bought a new stake in Zions Bancorporation, National Association during the second quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new position in Zions Bancorporation, National Association in the second quarter worth approximately $34,000. Finally, Rothschild Investment LLC bought a new position in shares of Zions Bancorporation, National Association in the second quarter valued at $39,000. 76.84% of the stock is currently owned by institutional investors.

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.