Q2 2022 EPS Estimates for Zions Bancorporation, National Association Reduced by Analyst (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) – Jefferies Financial Group decreased their Q2 2022 EPS estimates for shares of Zions Bancorporation, National Association in a research note issued to investors on Monday, April 25th. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will earn $1.48 per share for the quarter, down from their previous estimate of $1.52. Jefferies Financial Group has a “Buy” rating and a $87.00 price objective on the stock. Jefferies Financial Group also issued estimates for Zions Bancorporation, National Association’s Q3 2022 earnings at $1.53 EPS, Q4 2022 earnings at $1.59 EPS, FY2022 earnings at $5.87 EPS, Q1 2023 earnings at $1.45 EPS, Q2 2023 earnings at $1.73 EPS, Q3 2023 earnings at $1.78 EPS, Q4 2023 earnings at $1.79 EPS and FY2023 earnings at $6.75 EPS.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its quarterly earnings data on Monday, April 25th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.15 by $0.12. Zions Bancorporation, National Association had a return on equity of 15.40% and a net margin of 38.01%. During the same quarter last year, the company earned $1.90 earnings per share.

ZION has been the subject of several other research reports. Compass Point raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $80.00 in a research report on Friday, January 14th. DA Davidson reaffirmed a “neutral” rating on shares of Zions Bancorporation, National Association in a research report on Tuesday, January 25th. The Goldman Sachs Group lifted their price target on Zions Bancorporation, National Association from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Monday, April 4th. StockNews.com initiated coverage on Zions Bancorporation, National Association in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research lowered 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $71.47.

ZION opened at $56.01 on Thursday. The stock has a 50-day moving average price of $65.75 and a 200-day moving average price of $65.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $8.51 billion, a PE ratio of 8.27 and a beta of 1.27. Zions Bancorporation, National Association has a 1 year low of $47.06 and a 1 year high of $75.44.

A number of hedge funds have recently bought and sold shares of ZION. SG Americas Securities LLC boosted its stake in Zions Bancorporation, National Association by 137.1% in the 3rd quarter. SG Americas Securities LLC now owns 9,369 shares of the bank’s stock worth $580,000 after purchasing an additional 5,418 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Zions Bancorporation, National Association by 4.8% during the 3rd quarter. New York State Common Retirement Fund now owns 215,010 shares of the bank’s stock worth $13,307,000 after acquiring an additional 9,804 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Zions Bancorporation, National Association by 2.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,832 shares of the bank’s stock worth $980,000 after acquiring an additional 438 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Zions Bancorporation, National Association by 5.6% during the 3rd quarter. Raymond James & Associates now owns 45,896 shares of the bank’s stock worth $2,841,000 after acquiring an additional 2,452 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Zions Bancorporation, National Association by 60.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 49,125 shares of the bank’s stock worth $3,040,000 after acquiring an additional 18,495 shares in the last quarter. Institutional investors and hedge funds own 82.12% of the company’s stock.

In related news, CEO Alan M. Forney sold 3,029 shares of the business’s stock in a transaction that occurred on Friday, February 4th. The stock was sold at an average price of $70.63, for a total transaction of $213,938.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rebecca K. Robinson sold 15,120 shares of the business’s stock in a transaction that occurred on Thursday, February 3rd. The shares were sold at an average price of $69.52, for a total value of $1,051,142.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,899 shares of company stock valued at $3,623,797. 1.81% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 24th. Investors of record on Thursday, February 17th were paid a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.71%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 22.45%.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock buyback program on Friday, January 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.

Further Reading

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

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