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

Zions Bancorporation, National Association (NASDAQ:ZION) – Investment analysts at Wedbush increased their Q2 2024 earnings per share (EPS) estimates for shares of Zions Bancorporation, National Association in a report issued on Monday, April 22nd. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $1.06 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). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same period last year, the business earned $1.33 earnings per share.

Other analysts have also issued reports about the company. UBS Group reduced their price objective on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on Zions Bancorporation, National Association in a research note on Wednesday, April 10th. They issued a “hold” rating and a $47.00 price objective on the stock. Truist Financial reissued a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation, National Association in a research note on Monday, April 1st. Compass Point reissued a “neutral” rating on shares of Zions Bancorporation, National Association in a research note on Monday, January 8th. Finally, Morgan Stanley lifted their price target on Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.15.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $41.75 on Wednesday. The stock’s 50-day simple moving average is $40.83 and its 200 day simple moving average is $39.26. The firm has a market capitalization of $6.16 billion, a PE ratio of 10.49 and a beta of 1.13. The company has a quick ratio of 0.80, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. Zions Bancorporation, National Association has a twelve month low of $18.26 and a twelve month high of $46.15.

Institutional Investors Weigh In On Zions Bancorporation, National Association

Hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in Zions Bancorporation, National Association by 22.1% in the third quarter. Deutsche Bank AG now owns 389,686 shares of the bank’s stock valued at $13,596,000 after acquiring an additional 70,461 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Zions Bancorporation, National Association by 55.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,262 shares of the bank’s stock valued at $2,644,000 after buying an additional 21,551 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Zions Bancorporation, National Association by 119.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after buying an additional 1,259,571 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Zions Bancorporation, National Association during the fourth quarter valued at approximately $1,268,000. Finally, Nordea Investment Management AB boosted its position in shares of Zions Bancorporation, National Association by 55.2% during the fourth quarter. Nordea Investment Management AB now owns 264,384 shares of the bank’s stock valued at $11,678,000 after buying an additional 94,077 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 4,093 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $44.25, for a total value of $181,115.25. Following the completion of the sale, the vice president now directly owns 14,665 shares in the company, valued at $648,926.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Zions Bancorporation, National Association news, VP Mark Richard Young sold 5,597 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.21, for a total value of $225,055.37. Following the completion of the sale, the vice president now owns 12,133 shares of the company’s stock, valued at $487,867.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP A Scott Anderson sold 4,093 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $44.25, for a total value of $181,115.25. Following the completion of the sale, the vice president now directly owns 14,665 shares of the company’s stock, valued at approximately $648,926.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,022 shares of company stock worth $744,893. 2.22% of the stock is owned by corporate insiders.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders 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 yield of 3.93%. Zions Bancorporation, National Association’s payout ratio is currently 41.21%.

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.