Zions Bancorporation, National Association to Post Q4 2021 Earnings of $1.32 Per Share, B. Riley Forecasts (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) – Equities researchers at B. Riley cut their Q4 2021 earnings per share estimates for shares of Zions Bancorporation, National Association in a report released on Wednesday, January 12th. B. Riley analyst S. Moss now forecasts that the bank will earn $1.32 per share for the quarter, down from their prior estimate of $1.33. B. Riley also issued estimates for Zions Bancorporation, National Association’s Q4 2022 earnings at $1.43 EPS, FY2022 earnings at $5.15 EPS and FY2023 earnings at $5.90 EPS.

Several other research analysts have also recently commented on the company. Barclays raised their target price on Zions Bancorporation, National Association from $67.00 to $73.00 in a research report on Monday, January 3rd. Bank of America cut Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $65.00 to $68.00 in a research report on Thursday, January 6th. Wolfe Research raised Zions Bancorporation, National Association from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $64.00 to $85.00 in a research report on Wednesday, November 17th. Jefferies Financial Group raised their target price on Zions Bancorporation, National Association from $56.00 to $68.00 and gave the stock a “hold” rating in a research report on Monday, October 11th. Finally, DA Davidson raised their target price on Zions Bancorporation, National Association from $52.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $66.63.

ZION opened at $70.65 on Friday. Zions Bancorporation, National Association has a 1-year low of $43.64 and a 1-year high of $71.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 0.88 and a beta of 1.42. The business has a 50 day moving average of $64.91 and a 200-day moving average of $59.96.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Sunday, October 17th. The bank reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.10. Zions Bancorporation, National Association had a return on equity of 16.21% and a net margin of 40.66%. The company had revenue of $719.00 million during the quarter, compared to analysts’ expectations of $710.64 million. During the same period in the prior year, the business earned $1.01 earnings per share. Zions Bancorporation, National Association’s revenue for the quarter was up .0% compared to the same quarter last year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a share buyback program on Friday, October 22nd that authorizes the company to buyback $325.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 18th. Stockholders of record on Wednesday, November 10th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.15%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 21.44%.

In related news, EVP Terry Alan Shirey sold 8,867 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $65.71, for a total value of $582,650.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith D. Maio sold 11,785 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $66.25, for a total value of $780,756.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,783 shares of company stock valued at $2,281,427. 1.73% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Zions Bancorporation, National Association by 30.5% during the second quarter. American Century Companies Inc. now owns 16,313 shares of the bank’s stock worth $862,000 after buying an additional 3,810 shares during the last quarter. Sei Investments Co. boosted its holdings in Zions Bancorporation, National Association by 7.6% during the second quarter. Sei Investments Co. now owns 38,616 shares of the bank’s stock worth $2,073,000 after buying an additional 2,729 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Zions Bancorporation, National Association by 1.8% during the second quarter. HighTower Advisors LLC now owns 14,857 shares of the bank’s stock worth $785,000 after buying an additional 264 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in Zions Bancorporation, National Association by 61.1% during the second quarter. WINTON GROUP Ltd now owns 9,971 shares of the bank’s stock worth $527,000 after buying an additional 3,782 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in Zions Bancorporation, National Association by 99.6% during the second quarter. Cibc World Markets Corp now owns 93,977 shares of the bank’s stock worth $4,968,000 after buying an additional 46,899 shares during the last quarter. Hedge funds and other institutional investors own 83.10% of the company’s stock.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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

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