Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) – Analysts at Zacks Research lowered their Q3 2023 earnings estimates for shares of Zions Bancorporation, National Association in a research report issued to clients and investors on Wednesday, September 13th. Zacks Research analyst S. Shah now anticipates that the bank will earn $0.95 per share for the quarter, down from their previous forecast of $0.96. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.56 per share. Zacks Research also issued estimates for Zions Bancorporation, National Association’s Q4 2023 earnings at $0.87 EPS, FY2023 earnings at $4.26 EPS, Q2 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.90 EPS, Q2 2025 earnings at $1.17 EPS and FY2025 earnings at $4.70 EPS.
A number of other research firms have also recently weighed in on ZION. Barclays lowered their price objective on shares of Zions Bancorporation, National Association from $37.00 to $35.00 in a research report on Tuesday, June 27th. StockNews.com assumed coverage on shares of Zions Bancorporation, National Association in a research report on Thursday, August 17th. They set a “sell” rating for the company. Royal Bank of Canada increased their price objective on shares of Zions Bancorporation, National Association from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 20th. The Goldman Sachs Group increased their price objective on shares of Zions Bancorporation, National Association from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Finally, Stephens increased their price objective on shares of Zions Bancorporation, National Association from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average price target of $40.74.
Zions Bancorporation, National Association Stock Down 0.4 %
Shares of NASDAQ ZION opened at $36.92 on Monday. The company has a 50 day simple moving average of $35.48 and a 200-day simple moving average of $31.66. The company has a market capitalization of $5.47 billion, a P/E ratio of 6.50, a P/E/G ratio of 8.05 and a beta of 1.14. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 1 year low of $18.26 and a 1 year high of $58.88.
Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. The company 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 21.43% and a return on equity of 19.24%. Zions Bancorporation, National Association’s quarterly revenue was down 99.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Farther Finance Advisors LLC grew its position in shares of Zions Bancorporation, National Association by 190.3% in the second quarter. Farther Finance Advisors LLC now owns 14,166 shares of the bank’s stock valued at $380,000 after purchasing an additional 9,287 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at approximately $768,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at approximately $228,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Zions Bancorporation, National Association in the second quarter valued at approximately $1,340,000. Finally, Osaic Holdings Inc. grew its position in shares of Zions Bancorporation, National Association by 130.6% in the second quarter. Osaic Holdings Inc. now owns 124,538 shares of the bank’s stock valued at $3,347,000 after purchasing an additional 70,526 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Zions Bancorporation, National Association Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 17th were paid a dividend of $0.41 per share. The ex-dividend date was Wednesday, August 16th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.44%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 28.87%.
Zions Bancorporation, National Association Company Profile
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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