Zions Bancorporation, National Association (NASDAQ:ZION) Releases Earnings Results, Beats Expectations By $0.04 EPS

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) posted its quarterly earnings results on Monday. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04, Zacks reports. The company had revenue of $795.00 million during the quarter, compared to analysts' expectations of $792.49 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. During the same quarter in the previous year, the business earned $0.96 EPS.

Zions Bancorporation, National Association Stock Down 0.9 %

Shares of NASDAQ ZION traded down $0.41 during midday trading on Friday, hitting $44.84. The stock had a trading volume of 992,928 shares, compared to its average volume of 1,571,830. The business's 50 day moving average is $48.02 and its 200-day moving average is $53.30. Zions Bancorporation, National Association has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a market cap of $6.62 billion, a P/E ratio of 9.06, a PEG ratio of 1.61 and a beta of 0.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Thursday, February 13th. Zions Bancorporation, National Association's payout ratio is 33.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZION shares. Robert W. Baird reduced their price objective on Zions Bancorporation, National Association from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday. Stephens decreased their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price target on Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada lowered their price objective on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $59.00.

Insider Activity

In other news, EVP Steven Dan Stephens sold 10,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the sale, the executive vice president now directly owns 45,847 shares in the company, valued at $2,554,136.37. The trade was a 17.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the sale, the executive vice president now directly owns 29,313 shares in the company, valued at approximately $1,655,305.11. This represents a 43.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,029 shares of company stock valued at $1,855,321 in the last ninety days. 2.22% of the stock is currently owned by company insiders.

Zions Bancorporation, National Association declared that its board has initiated a stock repurchase program on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.