Wedbush Research Analysts Raise Earnings Estimates for ZION

by · The Cerbat Gem

Zions Bancorporation, National Association (NASDAQ:ZION – Free Report) – Equities research analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for Zions Bancorporation, National Association in a research report issued to clients and investors on Tuesday, October 22nd. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $4.75 for the year, up from their previous estimate of $4.45. Wedbush has a “Neutral” rating and a $55.00 price objective on the stock. The consensus estimate for Zions Bancorporation, National Association’s current full-year earnings is $4.60 per share. Wedbush also issued estimates for Zions Bancorporation, National Association’s Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $1.08 EPS, Q3 2025 earnings at $1.17 EPS and FY2025 earnings at $4.40 EPS.

ZION has been the subject of a number of other research reports. Evercore ISI decreased their target price on Zions Bancorporation, National Association from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Stephens lifted their target price on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada lifted their target price on Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Tuesday. The Goldman Sachs Group lifted their target price on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus target price of $52.82.

Read Our Latest Report on ZION

Zions Bancorporation, National Association Trading Down 1.2 %

Zions Bancorporation, National Association stock opened at $51.89 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.78 and a debt-to-equity ratio of 0.09. Zions Bancorporation, National Association has a 52 week low of $28.90 and a 52 week high of $53.32. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The stock has a 50-day moving average price of $47.85 and a 200 day moving average price of $45.38.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. During the same quarter last year, the company earned $1.13 earnings per share.

Zions Bancorporation, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s payout ratio is 37.36%.

Insider Buying and Selling

In related news, VP Bruce K. Alexander sold 5,156 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now directly owns 17,857 shares in the company, valued at approximately $925,528.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Bruce K. Alexander sold 5,156 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now directly owns 17,857 shares in the company, valued at approximately $925,528.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Terry Alan Shirey sold 1,917 shares of the business’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 transaction, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Zions Bancorporation, National Association by 11.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,035 shares of the bank’s stock worth $4,183,000 after buying an additional 9,393 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in Zions Bancorporation, National Association during the third quarter worth $206,000. Assenagon Asset Management S.A. boosted its stake in Zions Bancorporation, National Association by 124.9% during the third quarter. Assenagon Asset Management S.A. now owns 290,165 shares of the bank’s stock worth $13,702,000 after buying an additional 161,118 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Zions Bancorporation, National Association by 4,621.0% during the third quarter. International Assets Investment Management LLC now owns 37,485 shares of the bank’s stock worth $1,770,000 after buying an additional 36,691 shares during the last quarter. Finally, Leo Wealth LLC acquired a new position in Zions Bancorporation, National Association during the third quarter worth $687,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

(Get Free Report)

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.

Featured Stories