Zions Bancorporation, National Association (NASDAQ:ZION) Announces Earnings Results

Zions Bancorporation, National Association (NASDAQ:ZION) announced its quarterly earnings data on Tuesday. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.26 by $0.08, Briefing.com reports. The business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787,704.90 billion. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS.

Zions Bancorporation, National Association Price Performance

NASDAQ:ZION opened at $59.03 on Wednesday. Zions Bancorporation, National Association has a one year low of $37.76 and a one year high of $63.22. The stock has a market cap of $8.72 billion, a PE ratio of 13.45, a P/E/G ratio of 3.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $57.25 and a 200 day moving average price of $51.88.

Zions Bancorporation, National Association Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.43 per share. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Thursday, November 14th. Zions Bancorporation, National Association’s payout ratio is currently 39.18%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $209,306.30. Following the transaction, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at $1,434,894.84. The trade was a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the sale, the vice president now owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,881 shares of company stock valued at $1,108,184. Insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

ZION has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their target price on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Wedbush raised their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, UBS Group assumed coverage on Zions Bancorporation, National Association in a research note on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price for the company. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $58.25.

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.