Zions Bancorporation, National Association (NASDAQ:ZION) to Post Q2 2024 Earnings of $1.06 Per Share, Wedbush Forecasts

Zions Bancorporation, National Association (NASDAQ:ZION) – Research analysts at Wedbush lifted their Q2 2024 EPS estimates for shares of Zions Bancorporation, National Association in a note issued to 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 forecast of $1.04. Wedbush has a “Neutral” rating and a $46.00 price objective 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 released 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). Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $747.21 million. During the same quarter last year, the business posted $1.33 EPS.

Several other research firms have also commented on ZION. Truist Financial reaffirmed a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. Jefferies Financial Group lowered their price objective on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. UBS Group cut their target price on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They issued a “hold” rating and a $47.00 target price for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Zions Bancorporation, National Association from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.16.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $42.17 on Wednesday. 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 50 day simple moving average of $40.86 and a two-hundred day simple moving average of $39.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.77. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 10.60 and a beta of 1.13.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Wednesday, February 14th. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Insider Transactions at Zions Bancorporation, National Association

In other news, CEO Harris H. Simmons purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the purchase, the chief executive officer now owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Harris H. Simmons purchased 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $38.54 per share, with a total value of $154,160.00. Following the completion of the transaction, the chief executive officer now owns 1,312,987 shares of the company’s stock, valued at approximately $50,602,518.98. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP A Scott Anderson sold 4,093 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $44.25, for a total transaction of $181,115.25. Following the transaction, the vice president now directly owns 14,665 shares in the company, valued at $648,926.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,022 shares of company stock valued at $744,893. 2.22% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its holdings in shares of Zions Bancorporation, National Association by 28.1% in the 3rd quarter. National Bank of Canada FI now owns 31,566 shares of the bank’s stock worth $1,057,000 after purchasing an additional 6,922 shares during the period. Ronald Blue Trust Inc. increased its stake in Zions Bancorporation, National Association by 274.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,098 shares of the bank’s stock worth $73,000 after purchasing an additional 1,538 shares during the period. HB Wealth Management LLC bought a new stake in Zions Bancorporation, National Association in the 3rd quarter worth $258,000. SG Americas Securities LLC increased its holdings in Zions Bancorporation, National Association by 177.5% during the 3rd quarter. SG Americas Securities LLC now owns 28,418 shares of the bank’s stock valued at $992,000 after purchasing an additional 18,179 shares during the period. Finally, Douglas Lane & Associates LLC bought a new position in Zions Bancorporation, National Association in the 3rd quarter worth $208,000. 76.84% of the stock is owned by institutional investors.

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.