Zions Bancorporation, N.A. (NASDAQ:ZION) Posts Earnings Results, Beats Expectations By $0.19 EPS

Zions Bancorporation, N.A. (NASDAQ:ZION) posted its quarterly earnings results on Tuesday. The bank reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19, FiscalAI reports. The company had revenue of $891.00 million during the quarter, compared to analysts’ expectations of $863.80 million. Zions Bancorporation, N.A. had a return on equity of 13.56% and a net margin of 17.22%.

Zions Bancorporation, N.A. Trading Down 0.9%

NASDAQ:ZION traded down $0.53 during trading hours on Tuesday, reaching $59.09. The company’s stock had a trading volume of 2,929,423 shares, compared to its average volume of 1,539,534. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.29 and a beta of 0.85. The firm has a 50-day simple moving average of $56.67 and a 200-day simple moving average of $55.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $61.57.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Thursday, November 13th. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZION. Piper Sandler lowered their price target on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Barclays boosted their target price on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a research note on Wednesday, November 19th. Evercore ISI lowered Zions Bancorporation, N.A. from an “outperform” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. upped their target price on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.16.

Insider Transactions at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 2,458 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $53.11, for a total value of $130,544.38. Following the sale, the executive vice president directly owned 27,133 shares in the company, valued at approximately $1,441,033.63. This trade represents a 8.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Employees Retirement System of Texas lifted its holdings in shares of Zions Bancorporation, N.A. by 303.7% during the 3rd quarter. Employees Retirement System of Texas now owns 1,211 shares of the bank’s stock valued at $69,000 after buying an additional 911 shares during the period. Quarry LP grew its holdings in Zions Bancorporation, N.A. by 38.3% during the 3rd quarter. Quarry LP now owns 1,404 shares of the bank’s stock valued at $79,000 after buying an additional 389 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Zions Bancorporation, N.A. by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after buying an additional 625 shares in the last quarter. Danske Bank A S purchased a new position in Zions Bancorporation, N.A. during the third quarter valued at $124,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter worth approximately $144,000. Institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.