Brokers Issue Forecasts for Zions Bancorporation, National Association’s Q2 2024 Earnings (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) – Research analysts at Wedbush boosted their Q2 2024 earnings estimates for Zions Bancorporation, National Association in a research report issued to clients and investors on Monday, April 22nd. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $1.06 per share for the quarter, up from their previous estimate of $1.04. Wedbush currently has a “Neutral” rating and a $46.00 target price on the stock. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.28 per share. Wedbush also issued estimates for Zions Bancorporation, National Association’s Q3 2024 earnings at $1.09 EPS, Q4 2024 earnings at $1.08 EPS, FY2024 earnings at $4.20 EPS, Q1 2025 earnings at $0.97 EPS and FY2025 earnings at $4.55 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same period in the previous year, the company earned $1.33 EPS.

ZION has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Zions Bancorporation, National Association in a report on Wednesday, April 10th. They issued a “hold” rating and a $47.00 price objective for the company. Stephens upped their price target on shares of Zions Bancorporation, National Association from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. Truist Financial reissued a “hold” rating and issued a $46.00 price target on shares of Zions Bancorporation, National Association in a report on Monday, April 1st. Compass Point reissued a “neutral” rating on shares of Zions Bancorporation, National Association in a report on Monday, January 8th. Finally, Robert W. Baird cut their price target on shares of Zions Bancorporation, National Association from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.15.

Zions Bancorporation, National Association Stock Performance

ZION stock opened at $41.75 on Wednesday. The company has a market capitalization of $6.16 billion, a P/E ratio of 10.49 and a beta of 1.13. The company has a 50-day simple moving average of $40.83 and a 200 day simple moving average of $39.26. Zions Bancorporation, National Association has a fifty-two week low of $18.26 and a fifty-two week high of $46.15. The company has a quick ratio of 0.80, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in Zions Bancorporation, National Association by 105.4% in 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 position in Zions Bancorporation, National Association during the fourth quarter valued at approximately $29,000. Quarry LP acquired a new position in Zions Bancorporation, National Association during the fourth quarter valued at approximately $49,000. Ronald Blue Trust Inc. grew its holdings in Zions Bancorporation, National Association by 274.6% during the third quarter. Ronald Blue Trust Inc. now owns 2,098 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Zions Bancorporation, National Association by 4,613.3% during the fourth quarter. Versant Capital Management Inc now owns 2,121 shares of the bank’s stock valued at $93,000 after purchasing an additional 2,076 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Activity

In other Zions Bancorporation, National Association news, CEO Harris H. Simmons bought 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $38.54 per share, for a total transaction of $154,160.00. Following the acquisition, the chief executive officer now directly owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Steven Dan Stephens sold 7,500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the transaction, the executive vice president now owns 44,056 shares in the company, valued at $1,797,925.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Harris H. Simmons acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $38.54 per share, for a total transaction of $154,160.00. Following the acquisition, the chief executive officer now directly owns 1,312,987 shares of the company’s stock, valued at approximately $50,602,518.98. The disclosure for this purchase can be found here. Insiders have sold 18,022 shares of company stock worth $744,893 in the last 90 days. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th were issued a $0.41 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.93%. Zions Bancorporation, National Association’s dividend payout ratio is 41.21%.

Zions Bancorporation, National Association Company Profile

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.