Zions Bancorporation, National Association (NASDAQ:ZION) Shares Gap Up After Better-Than-Expected Earnings

Zions Bancorporation, National Association (NASDAQ:ZION) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $49.44, but opened at $51.58. Zions Bancorporation, National Association shares last traded at $51.80, with a volume of 803,968 shares traded.

The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. During the same period in the prior year, the business posted $1.13 earnings per share.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.41 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.12%. Zions Bancorporation, National Association’s dividend payout ratio is 41.21%.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of analyst reports. Wolfe Research raised Zions Bancorporation, National Association to a “hold” rating in a research note on Wednesday, September 18th. Wedbush upped their target price on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their target price on Zions Bancorporation, National Association from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday. Argus cut Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird increased their price objective on Zions Bancorporation, National Association from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Zions Bancorporation, National Association currently has a consensus rating of “Hold” and a consensus target price of $51.11.

Insider Activity

In other news, President Scott J. Mclean sold 60,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares of the company’s stock, valued at $3,850,243.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Scott J. Mclean sold 60,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total value of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares of the company’s stock, valued at $3,850,243.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $51.78, for a total value of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares of the company’s stock, valued at $1,275,859.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,073 shares of company stock worth $3,476,298. 2.22% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC lifted its position in Zions Bancorporation, National Association by 0.9% during the 3rd quarter. CVA Family Office LLC now owns 25,223 shares of the bank’s stock worth $1,191,000 after acquiring an additional 217 shares during the period. Strategic Advocates LLC lifted its holdings in shares of Zions Bancorporation, National Association by 6.1% in the 2nd quarter. Strategic Advocates LLC now owns 5,149 shares of the bank’s stock valued at $223,000 after buying an additional 296 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in shares of Zions Bancorporation, National Association by 26.4% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock valued at $61,000 after buying an additional 296 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Zions Bancorporation, National Association by 8.3% in the 2nd quarter. Centaurus Financial Inc. now owns 3,918 shares of the bank’s stock valued at $170,000 after buying an additional 299 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Zions Bancorporation, National Association by 1.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,063 shares of the bank’s stock valued at $1,174,000 after buying an additional 327 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, National Association Trading Up 6.2 %

The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.91 and a beta of 1.09. The company has a fifty day moving average price of $47.59 and a 200-day moving average price of $45.26. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11.

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.