Zacks: Brokerages Expect Zions Bancorporation, National Association (NASDAQ:ZION) to Post $1.36 Earnings Per Share

Wall Street analysts forecast that Zions Bancorporation, National Association (NASDAQ:ZION) will announce earnings of $1.36 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Zions Bancorporation, National Association’s earnings, with the highest EPS estimate coming in at $1.47 and the lowest estimate coming in at $1.26. Zions Bancorporation, National Association posted earnings of $1.01 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 34.7%. The firm is expected to announce its next earnings report on Monday, October 18th.

On average, analysts expect that Zions Bancorporation, National Association will report full-year earnings of $6.59 per share for the current fiscal year, with EPS estimates ranging from $6.40 to $6.82. For the next financial year, analysts expect that the company will report earnings of $4.62 per share, with EPS estimates ranging from $3.74 to $5.63. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Zions Bancorporation, National Association.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Sunday, July 18th. The bank reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.79. Zions Bancorporation, National Association had a return on equity of 15.45% and a net margin of 38.07%. The firm had revenue of $760.00 million for the quarter, compared to analyst estimates of $712.42 million. During the same period in the previous year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year.

Several research analysts have recently commented on the company. Truist Securities boosted their target price on Zions Bancorporation, National Association from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, August 30th. Royal Bank of Canada boosted their target price on Zions Bancorporation, National Association from $53.00 to $59.00 and gave the stock a “sector perform” rating in a report on Friday, August 27th. Piper Sandler reduced their target price on Zions Bancorporation, National Association from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 20th. Robert W. Baird downgraded Zions Bancorporation, National Association from a “neutral” rating to an “underperform” rating and set a $49.00 price objective on the stock. in a report on Monday, August 30th. Finally, B. Riley reaffirmed a “buy” rating and set a $57.00 price objective (down previously from $62.00) on shares of Zions Bancorporation, National Association in a report on Tuesday, July 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus target price of $56.17.

NASDAQ ZION opened at $56.86 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $54.05 and its two-hundred day moving average is $55.20. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 0.59 and a beta of 1.57. Zions Bancorporation, National Association has a 1-year low of $27.55 and a 1-year high of $60.65.

Zions Bancorporation, National Association announced that its board has approved a share buyback plan on Friday, July 23rd that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the bank to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 12th were given a $0.38 dividend. The ex-dividend date was Wednesday, August 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.67%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.34. Zions Bancorporation, National Association’s dividend payout ratio is currently 50.33%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZION. Thrivent Financial for Lutherans boosted its stake in Zions Bancorporation, National Association by 2.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,377,570 shares of the bank’s stock worth $178,539,000 after purchasing an additional 69,650 shares during the period. Colony Group LLC acquired a new position in Zions Bancorporation, National Association in the 2nd quarter worth $637,000. Walleye Capital LLC acquired a new position in Zions Bancorporation, National Association in the 2nd quarter worth $4,060,000. Massmutual Trust Co. FSB ADV boosted its stake in Zions Bancorporation, National Association by 3.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 16,826 shares of the bank’s stock worth $889,000 after purchasing an additional 533 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in Zions Bancorporation, National Association in the 2nd quarter worth $67,000. Institutional investors and hedge funds own 82.43% of the company’s stock.

About Zions Bancorporation, National Association

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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