Zions Bancorporation, N.A. (NASDAQ:ZION) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Zions Bancorporation, N.A. reported earnings of $1.54 per share, exceeding analyst expectations by $0.09.
• The company's stock rose by 4.7% after the earnings release, closing at $51.98 with a significant trading volume of 5,846,266 shares.
• Zions Bancorporation announced an increase in its quarterly dividend to $0.45 per share, reflecting a yield of 3.5% and a payout ratio of 32.91%.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) issued its quarterly earnings results on Monday. The bank reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03, RTT News reports. Zions Bancorporation, N.A. had a net margin of 16.98% and a return on equity of 13.76%. During the same quarter in the prior year, the company earned $1.37 EPS.

Zions Bancorporation, N.A. Stock Up 4.7%

Shares of ZION traded up $2.31 during trading hours on Monday, hitting $51.98. The company had a trading volume of 5,846,266 shares, compared to its average volume of 1,676,561. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $7.67 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The company's fifty day moving average price is $55.87 and its two-hundred day moving average price is $51.56.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $0.45 per share. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.80 annualized dividend and a yield of 3.5%. Zions Bancorporation, N.A.'s payout ratio is 32.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Zions Bancorporation, N.A. by 76.3% in the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank's stock valued at $6,853,000 after acquiring an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank's stock valued at $2,042,000 after buying an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Zions Bancorporation, N.A. by 0.5% during the first 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 during the last quarter. Focus Partners Wealth increased its holdings in shares of Zions Bancorporation, N.A. by 91.7% during the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank's stock valued at $1,072,000 after acquiring an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Zions Bancorporation, N.A. by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank's stock worth $94,000 after purchasing an additional 625 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on ZION. TD Cowen initiated coverage on Zions Bancorporation, N.A. in a report on Thursday, September 25th. They set a "hold" rating and a $64.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Citigroup increased their price objective on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Baird R W raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "strong-buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.33.

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.