What is Zacks Research’s Forecast for ZION FY2024 Earnings?

Zions Bancorporation, National Association (NASDAQ:ZION) – Analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Zions Bancorporation, National Association in a research note issued on Thursday, January 16th. Zacks Research analyst R. Department now forecasts that the bank will earn $4.81 per share for the year, up from their previous forecast of $4.80. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.85 per share. Zacks Research also issued estimates for Zions Bancorporation, National Association’s Q4 2024 earnings at $1.20 EPS and Q4 2025 earnings at $1.27 EPS.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. During the same quarter in the prior year, the business earned $1.13 earnings per share.

Several other research firms also recently commented on ZION. Stephens upped their price objective on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their target price on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group began coverage on Zions Bancorporation, National Association in a research report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price on the stock. Wells Fargo & Company increased their target price on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $58.25.

Zions Bancorporation, National Association Price Performance

Zions Bancorporation, National Association stock opened at $58.04 on Monday. Zions Bancorporation, National Association has a 12 month low of $37.76 and a 12 month high of $63.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $57.30 and its 200 day simple moving average is $51.66. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 2.86 and a beta of 1.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC bought a new stake in shares of Zions Bancorporation, National Association in the third quarter worth about $28,000. Abich Financial Wealth Management LLC grew its stake in shares of Zions Bancorporation, National Association by 26.4% in the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Zions Bancorporation, National Association in the second quarter worth about $101,000. Venturi Wealth Management LLC grew its stake in shares of Zions Bancorporation, National Association by 209.1% in the third quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after purchasing an additional 1,671 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Zions Bancorporation, National Association in the third quarter worth about $119,000. 76.84% of the stock is owned by institutional investors.

Insider Activity at Zions Bancorporation, National Association

In other news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the transaction, the vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the transaction, the executive vice president now directly owns 86,232 shares in the company, valued at $5,265,325.92. This trade represents a 9.93 % 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 90 days. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio is currently 39.18%.

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.