During the last session, Zions Bancorporation National Association (NASDAQ:ZION)’s traded shares were 5.31 million, with the beta value of the company hitting 1.10. At the end of the trading day, the stock’s price was $28.97, reflecting an intraday loss of -1.43% or -$0.42. The 52-week high for the ZION share is $59.75, that puts it down -106.25 from that peak though still a striking 36.97% gain since the share price plummeted to a 52-week low of $18.26. The company’s market capitalization is $4.37B, and the average intraday trading volume over the past 10 days was 7.31 million shares, and the average trade volume was 7.06 million shares over the past three months.
Zions Bancorporation National Association (ZION) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. ZION has a Sell rating from 2 analyst(s) out of 23 analysts who have looked at this stock. 10 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 9 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.32.
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Zions Bancorporation National Association (NASDAQ:ZION) trade information
Zions Bancorporation National Association (ZION) registered a -1.43% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.43% in intraday trading to $28.97 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 10.70%, and it has moved by 8.38% in 30 days. Based on these gigs, the overall price performance for the year is -46.65%. The short interest in Zions Bancorporation National Association (NASDAQ:ZION) is 14.49 million shares and it means that shorts have 2.87 day(s) to cover.
The consensus price target of analysts on Wall Street is $36.53, which implies an increase of 20.7% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $27.00 and $50.00 respectively. As a result, ZION is trading at a discount of -72.59% off the target high and 6.8% off the low.
Zions Bancorporation National Association (ZION) estimates and forecasts
Statistics show that Zions Bancorporation National Association has underperformed its competitors in share price, compared to the industry in which it operates. Zions Bancorporation National Association (ZION) shares have gone down -42.98% during the last six months, with a year-to-date growth rate less than the industry average at -10.19% against -7.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 2.30% this quarter and then drop -5.70% in the quarter after that. In the rating firms’ projections, revenue will increase 2.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $796.51 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $794.74 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $765 million and $813.43 million respectively. In this case, analysts expect current quarter sales to grow by 4.10% and then drop by -2.30% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 15.40%. While earnings are projected to return -14.70% in 2023.
Zions Bancorporation National Association is due to release its next quarterly earnings on July 19. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Zions Bancorporation National Association is 1.64, with the dividend yield indicating at 5.66 percent, continuing the trend of increasing dividends in recent years.
Zions Bancorporation National Association (NASDAQ:ZION)’s Major holders
Zions Bancorporation National Association insiders own 1.63% of total outstanding shares while institutional holders control 86.22%, with the float percentage being 87.65%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 675 institutions own stock in it. As of Mar 30, 2023, the company held over 22.04 million shares (or 14.88% of all shares), a total value of $659.58 million in shares.
The next largest institutional holding, with 10.41 million shares, is of Blackrock Inc.’s that is approximately 7.03% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $311.67 million.
Also, the Mutual Funds coming in first place with the largest holdings of Zions Bancorporation National Association (ZION) shares are Victory Portfolios-Sycamore Established Value Fund and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2022 indicates that Victory Portfolios-Sycamore Established Value Fund owns about 5.28 million shares. This amounts to just over 3.56 percent of the company’s overall shares, with a $259.54 million market value. The same data shows that the other fund manager holds slightly less at 4.57 million, or about 3.08% of the stock, which is worth about $224.45 million.