Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Sells $62,267.10 in Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Derek Steward sold 894 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the transaction, the executive vice president directly owned 17,449 shares in the company, valued at approximately $1,215,322.85. This represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zions Bancorporation, N.A. Price Performance

NASDAQ ZION traded down $0.60 on Wednesday, reaching $68.92. 1,670,891 shares of the company’s stock traded hands, compared to its average volume of 1,744,120. The stock has a market cap of $10.14 billion, a PE ratio of 8.78, a P/E/G ratio of 1.64 and a beta of 0.80. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The stock has a 50-day simple moving average of $67.06 and a 200 day simple moving average of $62.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. declared that its board has approved a stock buyback plan on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 22.93%.

Analyst Ratings Changes

Several research firms have weighed in on ZION. Morgan Stanley boosted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. TD Cowen raised their price objective on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Wells Fargo & Company lifted their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. DA Davidson boosted their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Barclays increased their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.29.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Zions Bancorporation, N.A. by 76.3% during the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after purchasing an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Zions Bancorporation, N.A. by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after buying an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Zions Bancorporation, N.A. by 0.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after acquiring an additional 2,659 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Zions Bancorporation, N.A. by 91.7% during the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Zions Bancorporation, N.A. by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after acquiring an additional 625 shares during the period. 76.84% of the stock is owned by 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.