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

Zions Bancorporation, National Association (NASDAQ:ZION) released its quarterly earnings results on Friday. The bank reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.02), Yahoo Finance reports. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $747.21 million. During the same quarter in the previous year, the business posted $1.33 EPS.

Zions Bancorporation, National Association Price Performance

NASDAQ ZION traded down $0.44 on Monday, hitting $41.32. The stock had a trading volume of 1,267,868 shares, compared to its average volume of 2,974,564. The firm has a 50-day moving average of $40.88 and a 200-day moving average of $39.41. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 10.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. Zions Bancorporation, National Association has a 52-week low of $18.26 and a 52-week high of $46.15.

Zions Bancorporation, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.97%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Analyst Ratings Changes

Several research analysts have issued reports on ZION shares. Wedbush lowered their price target on shares of Zions Bancorporation, National Association from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft started 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 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Zions Bancorporation, National Association from $49.50 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Truist Financial reiterated a “hold” rating and issued a $46.00 price objective on shares of Zions Bancorporation, National Association in a research note on Monday, April 1st. Finally, Evercore ISI lifted their price objective on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus target price of $43.16.

Insider Activity

In other news, CEO Harris H. Simmons purchased 4,000 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the transaction, the chief executive officer now directly owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Harris H. Simmons purchased 4,000 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the transaction, the chief executive officer now directly owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark Richard Young sold 5,597 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.21, for a total transaction of $225,055.37. Following the completion of the transaction, the vice president now owns 12,133 shares of the company’s stock, valued at $487,867.93. The disclosure for this sale can be found here. Insiders sold 13,929 shares of company stock worth $563,778 in the last three months. Corporate insiders own 2.22% of the company’s stock.

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.