Zions Bancorporation National Association (NASDAQ:ZION) Shareholders Have Endured a 20% Loss From Investing in the Stock Five Years Ago
Zions Bancorporation National Association (NASDAQ:ZION) Shareholders Have Endured a 20% Loss From Investing in the Stock Five Years Ago
While it may not be enough for some shareholders, we think it is good to see the Zions Bancorporation, National Association (NASDAQ:ZION) share price up 30% in a single quarter. But that doesn't change the fact that the returns over the last five years have been less than pleasing. In fact, the share price is down 32%, which falls well short of the return you could get by buying an index fund.
虽然这对一些股东来说可能还不够,但我们认为看到锡安银行,全国协会纳斯达克:锡安)股价在一个季度内上涨了30%。但这并不能改变这样一个事实,即过去五年的回报并不令人满意。事实上,该公司股价下跌了32%,远低于购买指数基金所能获得的回报。
Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they've been consistent with returns.
由于股东在较长期内下跌,让我们看看这段时间的基本基本面,看看它们是否与回报一致。
See our latest analysis for Zions Bancorporation National Association
查看我们对锡安银行协会的最新分析
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
本杰明·格雷厄姆(Benjamin Graham)的原话是:短期内,市场是一台投票机,但从长远来看,它是一台称重机。评估围绕一家公司的情绪变化的一个有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
While the share price declined over five years, Zions Bancorporation National Association actually managed to increase EPS by an average of 11% per year. So it doesn't seem like EPS is a great guide to understanding how the market is valuing the stock. Alternatively, growth expectations may have been unreasonable in the past.
虽然股价在五年内下跌,但锡安银行全国协会实际上成功地增加平均每年每股收益增长11%。因此,每股收益似乎并不能很好地指导人们理解市场对股票的估值。或者,增长预期在过去可能是不合理的。
Due to the lack of correlation between the EPS growth and the falling share price, it's worth taking a look at other metrics to try to understand the share price movement.
由于每股收益增长和股价下跌之间缺乏相关性,因此有必要看看其他指标,试图了解股价走势。
We note that the dividend has remained healthy, so that wouldn't really explain the share price drop. While it's not completely obvious why the share price is down, a closer look at the company's history might help explain it.
我们注意到,股息一直保持健康,因此这并不能真正解释股价下跌的原因。虽然股价下跌的原因并不完全明显,但仔细看看该公司的历史可能有助于解释这一点。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
你可以在下面看到收入和收入是如何随着时间的推移而变化的(点击图片可以发现确切的价值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20230930/0-b0341a5447efe205fa6c6244ec70127f-0-05bfbbde7b69f8099f9d9547796f0dab.png/big)
We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. You can see what analysts are predicting for Zions Bancorporation National Association in this interactive graph of future profit estimates.
我们认为,内部人士在过去一年进行了大量收购,这是积极的。即便如此,未来的收益对现有股东是否赚钱将重要得多。你可以在这里看到分析师对锡安银行全国协会的预测互动未来利润预估图表。
What About Dividends?
那股息呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Zions Bancorporation National Association, it has a TSR of -20% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
在考察投资回报时,重要的是要考虑到股东总回报(TSR)和股价回报。TSR是一种回报计算,计入了现金股息的价值(假设收到的任何股息都进行了再投资),以及任何贴现融资和剥离的计算价值。可以说,TSR更全面地描绘了一只股票产生的回报。就Zion Bancorporation National Association而言,它在过去5年的总资产收益率为-20%。这超过了我们之前提到的它的股价回报。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的视角
While the broader market gained around 20% in the last year, Zions Bancorporation National Association shareholders lost 28% (even including dividends). However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 4% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that Zions Bancorporation National Association is showing 1 warning sign in our investment analysis , you should know about...
尽管去年大盘上涨了约20%,但Zion Bancorporation National Association的股东损失了28%(甚至包括股息)。然而,请记住,即使是最好的股票,在12个月的时间里,有时也会表现逊于市场。遗憾的是,去年的业绩为糟糕的表现画上了句号,股东们在五年内面临着每年4%的总亏损。一般来说,股价长期疲软可能是一个坏信号,尽管反向投资者可能会希望研究这只股票,希望它能好转。我发现,把股价作为衡量企业业绩的长期指标是非常有趣的。但为了真正获得洞察力,我们还需要考虑其他信息。即便如此,请注意,锡安银行全国协会正在展示在我们的投资分析中出现1个警告信号,你应该知道关于……
Zions Bancorporation National Association is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Zion Bancorporation National Association并不是内部人士买入的唯一股票。所以让我们来看看这个免费内幕收购的成长型公司名单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。