Wedbush Weighs in on Zions Bancorporation, National Association’s Q2 2022 Earnings (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) – Wedbush upped their Q2 2022 earnings per share (EPS) estimates for shares of Zions Bancorporation, National Association in a research note issued on Tuesday, April 26th. Wedbush analyst P. Winter now anticipates that the bank will earn $1.34 per share for the quarter, up from their prior estimate of $1.29. Wedbush also issued estimates for Zions Bancorporation, National Association’s Q3 2022 earnings at $1.49 EPS, Q4 2022 earnings at $1.56 EPS, FY2022 earnings at $5.66 EPS, Q1 2023 earnings at $1.41 EPS, Q2 2023 earnings at $1.63 EPS, Q3 2023 earnings at $1.75 EPS, Q4 2023 earnings at $1.79 EPS and FY2023 earnings at $6.58 EPS.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Zions Bancorporation, National Association from a “strong-buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research report on Monday, March 21st. DA Davidson reaffirmed a “neutral” rating on shares of Zions Bancorporation, National Association in a report on Tuesday, January 25th. Raymond James cut shares of Zions Bancorporation, National Association from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. StockNews.com assumed coverage on shares of Zions Bancorporation, National Association in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Bank of America cut shares of Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and increased their target price for the company from $65.00 to $68.00 in a report on Thursday, January 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $71.47.

Shares of NASDAQ:ZION opened at $55.83 on Wednesday. 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 company has a market cap of $8.48 billion, a P/E ratio of 8.25 and a beta of 1.27. Zions Bancorporation, National Association has a 52 week low of $47.06 and a 52 week high of $75.44. The company has a 50-day moving average price of $66.06 and a 200 day moving average price of $65.89.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its earnings results on Monday, April 25th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.12. 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 prior year, the business earned $1.90 earnings per share.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Zions Bancorporation, National Association by 0.6% in the 3rd 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 during the period. Victory Capital Management Inc. raised its holdings in shares of Zions Bancorporation, National Association by 1.0% in the 4th 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 during the period. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, National Association by 1.6% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Zions Bancorporation, National Association by 2.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,719,392 shares of the bank’s stock valued at $234,917,000 after buying an additional 73,201 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Zions Bancorporation, National Association by 0.3% in the third quarter. Thrivent Financial for Lutherans now owns 3,387,026 shares of the bank’s stock valued at $209,623,000 after buying an additional 9,456 shares in the last quarter. Institutional investors own 82.12% of the company’s stock.

In other news, CEO Alan M. Forney sold 2,047 shares of the firm’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $74.60, for a total value of $152,706.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Alan M. Forney sold 3,029 shares of the firm’s stock in a transaction dated Friday, February 4th. The stock was sold at an average price of $70.63, for a total value of $213,938.27. The disclosure for this sale can be found here. Insiders have sold 50,899 shares of company stock worth $3,623,797 over the last quarter. 1.81% of the stock is currently owned by company insiders.

Zions Bancorporation, National Association announced that its board has initiated a share repurchase plan on Friday, January 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 17th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, February 16th. This represents a $1.52 annualized dividend and a yield of 2.72%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 22.45%.

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 and Estimates for Zions Bancorporation, National Association (NASDAQ:ZION)

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