Zions Bancorporation, National Association (NASDAQ:ZION) Expected to Announce Earnings of $1.36 Per Share

Wall Street brokerages predict that Zions Bancorporation, National Association (NASDAQ:ZION) will report earnings of $1.36 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Zions Bancorporation, National Association’s earnings, with estimates ranging from $1.26 to $1.47. Zions Bancorporation, National Association posted earnings per share of $1.01 in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.7%. The company is expected to report its next quarterly earnings results on Monday, October 18th.

According to Zacks, analysts expect that Zions Bancorporation, National Association will report full year earnings of $6.59 per share for the current fiscal year, with EPS estimates ranging from $6.40 to $6.82. For the next financial year, analysts forecast that the firm will report earnings of $4.62 per share, with EPS estimates ranging from $3.74 to $5.63. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Zions Bancorporation, National Association.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings results on Sunday, July 18th. The bank reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.79. Zions Bancorporation, National Association had a net margin of 38.07% and a return on equity of 15.45%. The firm had revenue of $760.00 million for the quarter, compared to analysts’ expectations of $712.42 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis.

A number of brokerages recently weighed in on ZION. Truist increased their price objective on shares of Zions Bancorporation, National Association from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, August 30th. Royal Bank of Canada increased their price objective on shares of Zions Bancorporation, National Association from $53.00 to $59.00 and gave the company a “sector perform” rating in a research report on Friday, August 27th. Robert W. Baird downgraded shares of Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and set a $49.00 price objective on the stock. in a research report on Monday, August 30th. Raymond James increased their price target on shares of Zions Bancorporation, National Association from $65.00 to $66.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Zions Bancorporation, National Association from a “market perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, September 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.17.

Shares of Zions Bancorporation, National Association stock opened at $57.09 on Wednesday. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 0.59 and a beta of 1.57. The company’s 50 day moving average is $54.44 and its 200 day moving average is $55.26. Zions Bancorporation, National Association has a twelve month low of $27.55 and a twelve month high of $60.65. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.17.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 12th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.66%. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, August 11th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 50.33%.

Zions Bancorporation, National Association announced that its Board of Directors has approved a stock buyback plan on Friday, July 23rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in ZION. Cigna Investments Inc. New grew its stake in Zions Bancorporation, National Association by 3.0% during the first quarter. Cigna Investments Inc. New now owns 5,719 shares of the bank’s stock valued at $314,000 after acquiring an additional 168 shares in the last quarter. MainStreet Investment Advisors LLC grew its stake in Zions Bancorporation, National Association by 0.9% during the first quarter. MainStreet Investment Advisors LLC now owns 21,223 shares of the bank’s stock valued at $1,167,000 after acquiring an additional 187 shares in the last quarter. Arizona State Retirement System grew its stake in Zions Bancorporation, National Association by 0.4% during the first quarter. Arizona State Retirement System now owns 47,744 shares of the bank’s stock valued at $2,624,000 after acquiring an additional 189 shares in the last quarter. Capital Analysts LLC grew its stake in Zions Bancorporation, National Association by 27.0% during the second quarter. Capital Analysts LLC now owns 940 shares of the bank’s stock valued at $50,000 after acquiring an additional 200 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Zions Bancorporation, National Association by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 9,000 shares of the bank’s stock valued at $475,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 82.43% of the company’s stock.

About Zions Bancorporation, National Association

Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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Earnings History and Estimates for Zions Bancorporation, National Association (NASDAQ:ZION)

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