Zions Bancorporation, National Association (NASDAQ:ZION) Issues Earnings Results, Beats Expectations By $0.08 EPS

Zions Bancorporation, National Association (NASDAQ:ZION) released its earnings results on Tuesday. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08, Briefing.com reports. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787,704.90 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis.

Zions Bancorporation, National Association Stock Performance

Shares of ZION traded up $0.99 during trading hours on Tuesday, reaching $59.03. 2,065,315 shares of the company’s stock traded hands, compared to its average volume of 1,262,392. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 3.11 and a beta of 1.12. 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 business’s fifty day simple moving average is $57.26 and its two-hundred day simple moving average is $51.76. Zions Bancorporation, National Association has a twelve month low of $37.76 and a twelve month high of $63.22.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.91%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 39.18%.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,385 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,321,210.44. This represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total value of $75,319.92. Following the completion of the transaction, the vice president now directly owns 35,878 shares in the company, valued at $2,182,817.52. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,881 shares of company stock valued at $1,108,184 over the last quarter. Corporate insiders own 2.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ZION shares. Compass Point raised their price objective on shares of Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Stephens lifted their target price 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. UBS Group initiated coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Finally, Truist Financial lifted their price objective on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.25.

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.