Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $34.46, but opened at $37.02. Zions Bancorporation, National Association shares last traded at $37.51, with a volume of 1,816,169 shares trading hands.
The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $1.17 million during the quarter, compared to the consensus estimate of $750.34 million. Zions Bancorporation, National Association had a net margin of 24.41% and a return on equity of 19.48%. Zions Bancorporation, National Association’s revenue was down 99.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 earnings per share.
Zions Bancorporation, National Association Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 18th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $1.64 annualized dividend and a yield of 4.33%. Zions Bancorporation, National Association’s payout ratio is 27.99%.
Analyst Upgrades and Downgrades
Insider Buying and Selling
In other news, EVP Rebecca K. Robinson bought 10,000 shares of the stock in a transaction on Thursday, May 4th. The stock was acquired at an average price of $20.38 per share, with a total value of $203,800.00. Following the acquisition, the executive vice president now directly owns 10,360 shares in the company, valued at $211,136.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Rebecca K. Robinson purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was bought at an average price of $20.38 per share, with a total value of $203,800.00. Following the completion of the purchase, the executive vice president now owns 10,360 shares in the company, valued at approximately $211,136.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Claire A. Huang bought 18,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average price of $20.02 per share, for a total transaction of $360,360.00. Following the transaction, the director now owns 18,000 shares in the company, valued at $360,360. The disclosure for this purchase can be found here. Insiders acquired a total of 105,000 shares of company stock worth $2,611,040 in the last ninety days. 1.81% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Alta Capital Management LLC raised its stake in shares of Zions Bancorporation, National Association by 62.2% in the second quarter. Alta Capital Management LLC now owns 33,660 shares of the bank’s stock valued at $904,000 after buying an additional 12,913 shares during the period. Sendero Wealth Management LLC boosted its holdings in Zions Bancorporation, National Association by 18.1% during the 2nd quarter. Sendero Wealth Management LLC now owns 9,038 shares of the bank’s stock valued at $243,000 after acquiring an additional 1,386 shares during the period. Acorn Financial Advisory Services Inc. ADV boosted its holdings in Zions Bancorporation, National Association by 10.1% during the 2nd quarter. Acorn Financial Advisory Services Inc. ADV now owns 12,000 shares of the bank’s stock valued at $322,000 after acquiring an additional 1,099 shares during the period. Global Retirement Partners LLC boosted its holdings in Zions Bancorporation, National Association by 35.9% during the 2nd quarter. Global Retirement Partners LLC now owns 16,125 shares of the bank’s stock valued at $433,000 after acquiring an additional 4,262 shares during the period. Finally, KG&L Capital Management LLC purchased a new stake in Zions Bancorporation, National Association during the 2nd quarter valued at about $1,089,000. Institutional investors own 85.56% of the company’s stock.
Zions Bancorporation, National Association Price Performance
The firm has a fifty day moving average of $28.79 and a two-hundred day moving average of $36.30. The company has a market capitalization of $5.61 billion, a PE ratio of 6.47, a PEG ratio of 6.89 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.70.
About Zions Bancorporation, National Association
Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.
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