DA Davidson Has Bullish Outlook for ZION FY2024 Earnings

Zions Bancorporation, National Association (NASDAQ:ZION) – Equities researchers at DA Davidson upped their FY2024 earnings per share estimates for shares of Zions Bancorporation, National Association in a research note issued to investors on Thursday, December 19th. DA Davidson analyst P. Winter now expects that the bank will post earnings of $4.87 per share for the year, up from their previous estimate of $4.83. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.85 per share. DA Davidson also issued estimates for Zions Bancorporation, National Association’s Q4 2024 earnings at $1.29 EPS and FY2025 earnings at $5.10 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. During the same quarter last year, the firm earned $1.13 earnings per share.

Other research analysts have also recently issued reports about the company. Stephens increased their price target on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Jefferies Financial Group dropped their price target on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Wednesday, September 11th. Compass Point lifted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $57.06.

Zions Bancorporation, National Association Trading Down 1.4 %

Zions Bancorporation, National Association stock opened at $52.36 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $56.18 and a 200-day moving average of $49.58. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 5.10 and a beta of 1.10. Zions Bancorporation, National Association has a one year low of $37.76 and a one year high of $63.22.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Zions Bancorporation, National Association by 14.6% during the 3rd quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock worth $332,515,000 after purchasing an additional 896,889 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Zions Bancorporation, National Association by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after purchasing an additional 929,251 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Zions Bancorporation, National Association by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,687,988 shares of the bank’s stock worth $221,367,000 after buying an additional 140,084 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Zions Bancorporation, National Association by 25.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,684,460 shares of the bank’s stock valued at $126,762,000 after buying an additional 538,049 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Zions Bancorporation, National Association by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,637,917 shares of the bank’s stock valued at $124,592,000 after buying an additional 30,030 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares of the company’s stock, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the completion of the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at $1,321,210.44. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,881 shares of company stock valued at $1,108,184. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.43 per share. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.72 annualized dividend and a yield of 3.28%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 39.18%.

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.