Zions Bancorporation, N.A. (NASDAQ:ZION) President Scott Mclean Sells 33,285 Shares

Zions Bancorporation, N.A. (NASDAQ:ZION) President Scott Mclean sold 33,285 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the transaction, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This trade represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock traded down $0.07 during mid-day trading on Wednesday, reaching $71.70. The stock had a trading volume of 1,459,855 shares, compared to its average volume of 1,740,123. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $73.34. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.69 and a beta of 0.81. The business’s fifty day moving average is $67.87 and its 200-day moving average is $62.70.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, August 13th. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 22.93%.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock repurchase plan on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on ZION shares. JPMorgan Chase & Co. cut shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price for the company. in a report on Tuesday, July 21st. TD Cowen upped their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Morgan Stanley increased their price target on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective for the company. in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research note on Friday. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and an average target price of $71.29.

Institutional Trading of Zions Bancorporation, N.A.

A number of hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its position in shares of Zions Bancorporation, N.A. by 17.0% in the second quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank’s stock worth $3,190,000 after acquiring an additional 6,700 shares during the period. Arista Wealth Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at about $230,000. Everhart Financial Group Inc. purchased a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at about $224,000. Beacon Investment Advisory Services Inc. raised its holdings in Zions Bancorporation, N.A. by 12.6% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank’s stock worth $892,000 after purchasing an additional 1,448 shares during the period. Finally, Elevation Wealth Partners LLC raised its holdings in Zions Bancorporation, N.A. by 528.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.