Zions Bancorporation, National Association (NASDAQ:ZION) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Zions Bancorporation, National Association (NASDAQ:ZION) released its quarterly earnings results on Monday. The bank reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.04), Briefing.com reports. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $747.21 million. During the same period in the previous year, the company posted $1.33 EPS.

Zions Bancorporation, National Association Price Performance

ZION stock opened at $41.75 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.80. The business has a 50 day simple moving average of $40.83 and a 200-day simple moving average of $39.26. The firm has a market capitalization of $6.16 billion, a PE ratio of 10.49 and a beta of 1.13. Zions Bancorporation, National Association has a 1 year low of $18.26 and a 1 year high of $46.15.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th were given a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.93%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 41.21%.

Insider Activity

In other news, EVP Steven Dan Stephens sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the completion of the sale, the executive vice president now directly owns 44,056 shares in the company, valued at $1,797,925.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Steven Dan Stephens sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the transaction, the executive vice president now directly owns 44,056 shares in the company, valued at $1,797,925.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Richard Young sold 5,597 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.21, for a total value of $225,055.37. Following the completion of the transaction, the vice president now owns 12,133 shares in the company, valued at $487,867.93. The disclosure for this sale can be found here. Insiders sold 18,022 shares of company stock worth $744,893 over the last ninety days. Corporate insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI upped their target price on Zions Bancorporation, National Association from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Stephens upped their price objective on shares of Zions Bancorporation, National Association from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 23rd. UBS Group dropped their target price on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday. Truist Financial restated a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. Finally, 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 target on the stock. Three equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.15.

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.