Q1 2023 Earnings Forecast for Zions Bancorporation, National Association (NASDAQ:ZION) Issued By Jefferies Financial Group

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) – Research analysts at Jefferies Financial Group increased their Q1 2023 earnings per share (EPS) estimates for Zions Bancorporation, National Association in a report released on Monday, January 23rd. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will post earnings per share of $1.62 for the quarter, up from their prior estimate of $1.42. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $6.60 per share. Jefferies Financial Group also issued estimates for Zions Bancorporation, National Association’s Q2 2023 earnings at $1.53 EPS, Q3 2023 earnings at $1.50 EPS and Q4 2023 earnings at $1.54 EPS.

Several other research firms have also recently weighed in on ZION. Piper Sandler lowered their price objective on shares of Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Tuesday, December 13th. Wells Fargo & Company reduced their price objective on Zions Bancorporation, National Association from $66.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 25th. Compass Point dropped their target price on Zions Bancorporation, National Association to $60.00 in a research report on Thursday, October 20th. Finally, DA Davidson raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Tuesday, December 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.08.

Zions Bancorporation, National Association Trading Down 1.7 %

Shares of ZION opened at $51.77 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.72. Zions Bancorporation, National Association has a 1-year low of $45.21 and a 1-year high of $75.44. The company has a market capitalization of $7.75 billion, a P/E ratio of 9.77, a P/E/G ratio of 2.75 and a beta of 1.15. The firm’s 50 day simple moving average is $49.65 and its 200 day simple moving average is $52.20.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last released its quarterly earnings results on Monday, January 23rd. The bank reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.18. Zions Bancorporation, National Association had a return on equity of 17.78% and a net margin of 27.18%. The firm had revenue of $988.00 million for the quarter, compared to analysts’ expectations of $873.05 million. During the same quarter last year, the firm posted $1.34 EPS.

Zions Bancorporation, National Association declared that its board has initiated a share buyback program on Friday, October 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, November 9th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 30.94%.

Insider Activity

In other news, CEO Harris H. Simmons acquired 3,000 shares of the stock in a transaction dated Wednesday, November 30th. The stock was purchased at an average cost of $50.44 per share, with a total value of $151,320.00. Following the completion of the purchase, the chief executive officer now owns 1,245,034 shares in the company, valued at approximately $62,799,514.96. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Bruce K. Alexander sold 2,378 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $52.05, for a total transaction of $123,774.90. Following the completion of the transaction, the vice president now directly owns 15,172 shares of the company’s stock, valued at $789,702.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Harris H. Simmons acquired 3,000 shares of the stock in a transaction dated Wednesday, November 30th. The shares were purchased at an average cost of $50.44 per share, with a total value of $151,320.00. Following the completion of the purchase, the chief executive officer now owns 1,245,034 shares of the company’s stock, valued at approximately $62,799,514.96. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 18,032 shares of company stock valued at $905,391. Insiders own 1.81% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors have recently bought and sold shares of ZION. Jacobs Levy Equity Management Inc. raised its stake in Zions Bancorporation, National Association by 220.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,377,282 shares of the bank’s stock worth $70,049,000 after buying an additional 947,358 shares in the last quarter. Vanguard Group Inc. raised its stake in Zions Bancorporation, National Association by 4.7% in the third quarter. Vanguard Group Inc. now owns 19,943,882 shares of the bank’s stock worth $1,014,347,000 after buying an additional 902,141 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Zions Bancorporation, National Association by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,250,628 shares of the bank’s stock worth $216,356,000 after buying an additional 596,753 shares in the last quarter. Victory Capital Management Inc. raised its stake in Zions Bancorporation, National Association by 7.2% in the third quarter. Victory Capital Management Inc. now owns 7,704,832 shares of the bank’s stock worth $391,868,000 after buying an additional 516,551 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Zions Bancorporation, National Association by 85.1% in the first quarter. First Trust Advisors LP now owns 933,128 shares of the bank’s stock worth $61,176,000 after buying an additional 429,080 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

About Zions Bancorporation, National Association

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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 corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client 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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