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

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

Zions Bancorporation, National Association Price Performance

ZION traded up $0.99 during trading on Tuesday, reaching $59.03. 2,065,315 shares of the company traded hands, compared to its average volume of 1,262,392. Zions Bancorporation, National Association has a 12-month low of $37.76 and a 12-month high of $63.22. The firm has a fifty day simple moving average of $57.26 and a 200 day simple moving average of $51.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $8.72 billion, a P/E ratio of 13.45, a PEG ratio of 3.11 and a beta of 1.12.

Zions Bancorporation, National Association Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.43 dividend. The ex-dividend date was Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 2.91%. Zions Bancorporation, National Association’s payout ratio is currently 39.18%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ZION shares. Evercore ISI upped their price objective on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods raised their price target on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, Barclays raised their target price on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.25.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the transaction, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,321,210.44. This trade represents a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at $5,265,325.92. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Company Profile

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.