B. Riley Research Analysts Raise Earnings Estimates for Zions Bancorporation, National Association (NASDAQ:ZION)


Zions Bancorporation, National Association (NASDAQ: ZIONGet a rating) – B. Riley raised his Q2 2023 earnings per share estimates for Zions Bancorporation, National Association in a research report released Tuesday, April 26. B. Riley analyst S. Moss now expects the bank to post earnings per share of $1.62 for the quarter, up from its previous estimate of $1.45. B. Riley has a “Neutral” rating and a price target of $65.00 on the stock.

Other research analysts have also published research reports on the company. Jefferies Financial Group upgraded Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and raised its target price for the company from $70.00 to $87.00 in a report on Monday 14 february. Robert W. Baird downgraded Zions Bancorporation, National Association from an “underperforming” rating to a “neutral” rating and raised its price target for the company from $49.00 to $60.00 in a report Monday, April 18. Compass Point upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and raised its target price for the company from $70.00 to $80.00 in a Friday, January 14 report. StockNews.com began covering Zions Bancorporation, National Association in a report on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Raymond James downgraded Zions Bancorporation, National Association, from a “strong buy” rating to a “market performance” rating in a report released Tuesday. One research analyst has rated the security with a sell rating, eleven have issued a hold rating and six have issued a buy rating for the security. Based on data from MarketBeat.com, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and an average target price of $71.47.

Shares of Zions Bancorporation, National Association Stock opened at $56.01 on Wednesday. The company has a debt ratio of 0.27, a quick ratio of 0.77 and a current ratio of 0.77. Zions Bancorporation, National Association has a 52-week low of $47.06 and a 52-week high of $75.44. The stock has a 50-day moving average price of $65.75 and a 200-day moving average price of $65.82. The stock has a market capitalization of $8.51 billion, a PE ratio of 8.27 and a beta of 1.27.

Zions Bancorporation, National Association (NASDAQ: ZIONGet a rating) last reported quarterly earnings data on Monday, April 25. The bank reported EPS of $1.27 for the quarter, beating the Zacks consensus estimate of $1.15 by $0.12. Zions Bancorporation, National Association achieved a return on equity of 15.40% and a net margin of 38.01%. In the same period a year earlier, the company earned earnings per share of $1.90.

A number of hedge funds have recently changed their ZION holdings. Allspring Global Investments Holdings LLC purchased a new stake in Zions Bancorporation, National Association during the fourth quarter valued at approximately $104,419,000. Norges Bank purchased a new stake in Zions Bancorporation, National Association during the fourth quarter for a value of approximately $96,504,000. American Century Companies Inc. increased its stake in Zions Bancorporation, National Association by 3,708.0% during the third quarter. American Century Companies Inc. now owns 621,203 shares of the bank worth $38,447,000 after purchasing an additional 604,890 shares in the last quarter. Millennium Management LLC increased its stake in shares of Zions Bancorporation, National Association by 208.9% in Q3. Millennium Management LLC now owns 599,410 shares of the bank valued at $37,097,000 after acquiring an additional 405,374 shares in the last quarter. Finally, Todd Asset Management LLC increased its stake in the shares of Zions Bancorporation, National Association by 97.1% in the 4th quarter. Todd Asset Management LLC now owns 805,736 shares of the bank valued at $50,891,000 after acquiring an additional 396,965 shares in the last quarter. 82.12% of the shares are held by hedge funds and other institutional investors.

Separately, Executive Vice President Rebecca K. Robinson sold 15,120 shares of the company in a transaction dated Thursday, February 3. The stock was sold at an average price of $69.52, for a total transaction of $1,051,142.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, CEO Alan M. Forney sold 2,047 shares of the company in a transaction dated Thursday, February 10. The stock was sold at an average price of $74.60, for a total value of $152,706.20. Disclosure of this sale can be found here. During the last quarter, insiders sold 50,899 shares of the company valued at $3,623,797. 1.81% of the shares are held by insiders of the company.

Zions Bancorporation, National Association announced that its board of directors authorized a stock repurchase plan on Friday, January 28 that authorizes the company to repurchase $50.00 million in stock. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its shares through purchases on the open market. Stock buyback plans are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 24. Shareholders of record on Thursday, February 17 received a dividend of $0.38. This represents an annualized dividend of $1.52 and a dividend yield of 2.71%. The ex-dividend date was Wednesday, February 16. Zions Bancorporation, the National Association‘s dividend payout ratio (DPR) is currently 22.45%.

Zions Bancorporation, National Association Corporate Profile (Get a rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The company offers business banking services; commercial banking, including small and medium enterprises; commercial real estate banking services; municipal and public finance departments; retail banking, including residential mortgages; fiduciary services; wealth management and personal banking services; and capital markets products and services.

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



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