Zions Bancorporation, N.A. (NASDAQ:ZION) Posts Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) announced its earnings results on Monday. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27, Zacks reports. The company had revenue of $838.00 million for the quarter, compared to analyst estimates of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. During the same period in the prior year, the company posted $1.28 EPS.

Zions Bancorporation, N.A. Trading Down 2.4%

NASDAQ:ZION traded down $1.36 on Thursday, reaching $55.18. The company's stock had a trading volume of 2,086,935 shares, compared to its average volume of 1,535,543. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $63.22. The company has a quick ratio of 0.83, a current ratio of 0.80 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $51.09 and a 200 day moving average price of $50.85. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.12%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 31.44%.

Analyst Ratings Changes

Several research firms have weighed in on ZION. Wells Fargo & Company boosted their price target on Zions Bancorporation, N.A. from $47.00 to $58.00 and gave the company an "equal weight" rating in a research note on Tuesday. Truist Financial upped their target price on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the stock a "hold" rating in a research note on Wednesday. Robert W. Baird upped their target price on Zions Bancorporation, N.A. from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday. Argus upgraded Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Monday, April 28th. Finally, Stephens lowered their target price on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.78.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of institutional investors have recently modified their holdings of the company. Focus Partners Wealth grew its stake in Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank's stock worth $1,072,000 after purchasing an additional 10,283 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Zions Bancorporation, N.A. by 0.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank's stock worth $25,172,000 after acquiring an additional 2,659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Zions Bancorporation, N.A. by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank's stock worth $2,042,000 after acquiring an additional 6,393 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Zions Bancorporation, N.A. by 76.3% during the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank's stock worth $6,853,000 after acquiring an additional 59,483 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. 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.