A correction may be in store for Zions Bancorporation National Association (NASDAQ:ZION) shares?

In the latest session, Zions Bancorporation National Association (NASDAQ: ZION) closed at $31.31 up 4.47% from its previous closing price of $29.97. In other words, the price has increased by $+1.34 from its previous closing price. On the day, 17211439 shares were traded. ZION stock price reached its highest trading level at $36.99 during the session, while it also had its lowest trading level at $27.69.

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For a deeper understanding of Zions Bancorporation National Association’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 0.79 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 4.72. In the meantime, Its Debt-to-Equity ratio is 0.15 whereas as Long-Term Debt/Eq ratio is at 0.15.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, JP Morgan on January 25, 2023, Downgraded its rating to Underweight and sets its target price to $46 from $49 previously.

On January 03, 2023, Barclays Downgraded its rating to Underweight which previously was Equal Weight and also lowered its target price recommendation from $68 to $59.

DA Davidson Upgraded its Neutral to Buy on December 21, 2022, while the target price for the stock was maintained at $56.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Feb 10 when Ellingsen Eric sold 377 shares for $52.51 per share. The transaction valued at 19,796 led to the insider holds 24,135 shares of the business.

STEPHENS STEVEN DAN sold 6,000 shares of ZION for $326,510 on Feb 07. The Executive Vice President now owns 38,509 shares after completing the transaction at $54.42 per share. On Feb 01, another insider, Law Scott A., who serves as the Executive Vice President of the company, sold 3,217 shares for $54.09 each. As a result, the insider received 174,008 and left with 19,312 shares of the company.

Valuation Measures:

As of this moment, Zions’s Price-to-Earnings (P/E) ratio for their current fiscal year is 5.41, and their Forward P/E ratio for the next fiscal year is 4.76. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.76 while its Price-to-Book (P/B) ratio in mrq is 1.05.

Stock Price History:

Over the past 52 weeks, ZION has reached a high of $71.25, while it has fallen to a 52-week low of $22.55. The 50-Day Moving Average of the stock is 49.90, while the 200-Day Moving Average is calculated to be 51.97.

Shares Statistics:

For the past three months, ZION has traded an average of 2.04M shares per day and 6.98M over the past ten days. A total of 148.73M shares are outstanding, with a floating share count of 147.18M. Insiders hold about 1.00% of the company’s shares, while institutions hold 85.20% stake in the company. Shares short for ZION as of Jan 12, 2023 were 3.14M with a Short Ratio of 3.66M, compared to 3.5M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.11% and a Short% of Float of 2.46%.

Dividends & Splits

According to the company, the forward annual dividend rate for ZION is 1.64, from 1.36 in the trailing year. Against a Trailing Annual Dividend Yield of 4.54%, it implies a Forward Annual Dividend Yield of 3.07%. The stock’s 5-year Average Dividend Yield is 2.67. The current Payout Ratio is 27.30% for ZION, which recently paid a dividend on Feb 22, 2023 with an ex-dividend date of Feb 14, 2023. Stock splits for the company last occurred on May 14, 1997 when the company split stock in a 4:1 ratio.

Earnings Estimates

There are 18 different market analysts currently analyzing its stock. On average, analysts expect EPS of $1.61 for the current quarter, with a high estimate of $1.75 and a low estimate of $1.42, while EPS last year was $1.27. The consensus estimate for the next quarter is $1.59, with high estimates of $1.77 and low estimates of $1.43.

Analysts are recommending an EPS of between $7.05 and $6 for the fiscal current year, implying an average EPS of $6.46. EPS for the following year is $6.58, with 20 analysts recommending between $7.13 and $6.

Revenue Estimates

A total of 9 analysts believe the company’s revenue will be $848.63M this quarter.It ranges from a high estimate of $870.6M to a low estimate of $821.53M. As of the current estimate, Zions Bancorporation National Association’s year-ago sales were $686M, an estimated increase of 23.70% from the year-ago figure. For the next quarter, 9 analysts are estimating revenue of $849.44M, an increase of 11.00% less than the figure of $23.70% in the same quarter last year. There is a high estimate of $879.2M for the next quarter, whereas the lowest estimate is $824M.

A total of 11 analysts have provided revenue estimates for ZION’s current fiscal year. The highest revenue estimate was $3.53B, while the lowest revenue estimate was $3.37B, resulting in an average revenue estimate of $3.45B. In the same quarter a year ago, actual revenue was $3.15B, up 9.60% from the average estimate. Based on 11 analysts’ estimates, the company’s revenue will be $3.53B in the next fiscal year. The high estimate is $3.6B and the low estimate is $3.43B. The average revenue growth estimate for next year is up 2.10% from the average revenue estimate for this year.