FY2022 EPS Estimates for Zions Bancorporation, National Association Raised by Jefferies Financial Group (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) – Stock analysts at Jefferies Financial Group raised their FY2022 earnings per share estimates for shares of Zions Bancorporation, National Association in a research note issued to investors on Monday, April 11th. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will post earnings of $6.05 per share for the year, up from their prior forecast of $5.40. Jefferies Financial Group has a “Buy” rating and a $87.00 price target on the stock. Jefferies Financial Group also issued estimates for Zions Bancorporation, National Association’s FY2023 earnings at $7.30 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last announced its quarterly earnings data on Monday, January 24th. The bank reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.01. Zions Bancorporation, National Association had a net margin of 38.01% and a return on equity of 15.40%. The firm had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $712.71 million. During the same quarter last year, the business earned $1.66 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Zions Bancorporation, National Association from a “strong-buy” rating to a “hold” rating and set a $71.00 target price for the company. in a research report on Monday, March 21st. Bank of America cut shares of Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $65.00 to $68.00 in a research report on Thursday, January 6th. Compass Point upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $80.00 in a research report on Friday, January 14th. DA Davidson restated a “neutral” rating on shares of Zions Bancorporation, National Association in a research report on Tuesday, January 25th. Finally, B. Riley cut their target price on shares of Zions Bancorporation, National Association from $77.00 to $70.00 in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.65.

Shares of ZION opened at $64.02 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.27. The stock has a market cap of $9.72 billion, a P/E ratio of 9.46, a PEG ratio of 0.70 and a beta of 1.27. The company has a 50-day moving average of $68.01 and a two-hundred day moving average of $65.92. Zions Bancorporation, National Association has a 12-month low of $47.06 and a 12-month high of $75.44.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 17th were issued a $0.38 dividend. The ex-dividend date was Wednesday, February 16th. This represents a $1.52 dividend on an annualized basis and a yield of 2.37%. Zions Bancorporation, National Association’s payout ratio is 22.45%.

Zions Bancorporation, National Association announced that its board has initiated a stock repurchase plan on Friday, January 28th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 30,703 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $71.85, for a total transaction of $2,206,010.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Alan M. Forney sold 2,047 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $74.60, for a total transaction of $152,706.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,899 shares of company stock valued at $3,623,797. 1.81% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Zions Bancorporation, National Association by 0.6% during the third quarter. BlackRock Inc. now owns 10,915,354 shares of the bank’s stock worth $675,553,000 after purchasing an additional 69,919 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Zions Bancorporation, National Association by 1.0% during the fourth quarter. Victory Capital Management Inc. now owns 7,136,919 shares of the bank’s stock worth $450,768,000 after purchasing an additional 69,452 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Zions Bancorporation, National Association by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,543,617 shares of the bank’s stock worth $281,218,000 after purchasing an additional 71,343 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Zions Bancorporation, National Association by 2.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,719,392 shares of the bank’s stock worth $234,917,000 after purchasing an additional 73,201 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Zions Bancorporation, National Association by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 3,387,026 shares of the bank’s stock worth $209,623,000 after purchasing an additional 9,456 shares in the last quarter. 82.12% of the stock is currently owned by institutional investors and hedge funds.

About Zions Bancorporation, National Association (Get Rating)

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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