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

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) announced its earnings results on Monday. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.12, RTT News reports. Zions Bancorporation, National Association had a net margin of 38.01% and a return on equity of 15.40%. During the same quarter in the previous year, the company earned $1.90 earnings per share.

Shares of Zions Bancorporation, National Association stock traded up $0.35 during trading hours on Monday, hitting $61.09. The company’s stock had a trading volume of 2,811,449 shares, compared to its average volume of 1,615,295. Zions Bancorporation, National Association has a 1-year low of $47.06 and a 1-year high of $75.44. The business has a fifty day moving average of $66.68 and a 200 day moving average of $65.97. The company has a market capitalization of $9.28 billion, a PE ratio of 8.86 and a beta of 1.27. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.27.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 24th. Stockholders of record on Thursday, February 17th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Wednesday, February 16th. Zions Bancorporation, National Association’s payout ratio is currently 22.45%.

In other Zions Bancorporation, National Association news, CEO Alan M. Forney sold 3,029 shares of the firm’s stock in a transaction on Friday, February 4th. The shares were sold at an average price of $70.63, for a total transaction of $213,938.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP A Scott Anderson sold 30,703 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $71.85, for a total transaction of $2,206,010.55. The disclosure for this sale can be found here. Insiders sold 50,899 shares of company stock valued at $3,623,797 in the last three months. Company insiders own 1.81% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in Zions Bancorporation, National Association by 5.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,475,547 shares of the bank’s stock worth $93,196,000 after acquiring an additional 71,100 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Zions Bancorporation, National Association by 26.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 692,406 shares of the bank’s stock worth $43,732,000 after acquiring an additional 143,065 shares in the last quarter. Barclays PLC grew its holdings in Zions Bancorporation, National Association by 17.8% during the 4th quarter. Barclays PLC now owns 447,437 shares of the bank’s stock worth $28,261,000 after acquiring an additional 67,492 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Zions Bancorporation, National Association by 4.3% during the 4th quarter. Glenmede Trust Co. NA now owns 100,923 shares of the bank’s stock worth $6,374,000 after acquiring an additional 4,132 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Zions Bancorporation, National Association by 82.5% in the 4th quarter. Sei Investments Co. now owns 94,666 shares of the bank’s stock worth $6,063,000 after buying an additional 42,783 shares during the last quarter. 82.12% of the stock is owned by institutional investors.

ZION has been the subject of a number of research reports. Robert W. Baird upgraded shares of Zions Bancorporation, National Association from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $49.00 to $60.00 in a research report on Monday, April 18th. 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. StockNews.com assumed coverage on shares of Zions Bancorporation, National Association in a research report on Thursday, March 31st. They set a “hold” rating for the company. DA Davidson reissued a “neutral” rating on shares of Zions Bancorporation, National Association in a research report on Tuesday, January 25th. Finally, Barclays boosted their price objective on shares of Zions Bancorporation, National Association from $67.00 to $73.00 in a research report on Monday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Zions Bancorporation, National Association has a consensus rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, National Association announced that its board has initiated a stock repurchase program on Friday, January 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, National Association Company Profile (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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Earnings History for Zions Bancorporation, National Association (NASDAQ:ZION)

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