Zions Bancorporation, N.A. (NASDAQ:ZION) Sees Significant Drop in Short Interest

Zions Bancorporation, N.A. (NASDAQ:ZION) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 5,328,717 shares, a decline of 16.8% from the January 15th total of 6,403,392 shares. Based on an average daily trading volume, of 2,258,824 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.7% of the shares of the stock are sold short. Currently, 3.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,258,824 shares, the days-to-cover ratio is presently 2.4 days.

Zions Bancorporation, N.A. Stock Up 0.4%

Shares of NASDAQ:ZION traded up $0.27 during trading on Tuesday, hitting $61.53. 1,791,101 shares of the company’s stock traded hands, compared to its average volume of 1,981,329. The company has a 50-day moving average price of $60.17 and a 200-day moving average price of $56.34. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 10.26 and a beta of 0.85.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 30.00%.

Insider Buying and Selling at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 6,558 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $64.80, for a total value of $424,958.40. Following the completion of the sale, the executive vice president owned 18,761 shares of the company’s stock, valued at $1,215,712.80. This trade represents a 25.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Eric Ellingsen sold 1,519 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $61.27, for a total value of $93,069.13. Following the transaction, the vice president directly owned 40,361 shares in the company, valued at approximately $2,472,918.47. This represents a 3.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,302 shares of company stock worth $3,356,517 over the last quarter. Corporate insiders own 1.77% of the company’s stock.

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

Large investors have recently bought and sold shares of the company. Laird Norton Wetherby Trust Company LLC acquired a new position in Zions Bancorporation, N.A. during the fourth quarter worth $504,000. FIL Ltd boosted its stake in shares of Zions Bancorporation, N.A. by 117.6% during the 4th quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after buying an additional 601,610 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Zions Bancorporation, N.A. by 201.1% during the 4th quarter. Jump Financial LLC now owns 218,028 shares of the bank’s stock worth $12,763,000 after buying an additional 145,621 shares during the last quarter. Calydon Capital increased its position in shares of Zions Bancorporation, N.A. by 3.2% in the fourth quarter. Calydon Capital now owns 119,307 shares of the bank’s stock valued at $6,984,000 after acquiring an additional 3,705 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $2,799,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ZION shares. Robert W. Baird cut Zions Bancorporation, N.A. from an “outperform” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Monday, February 9th. Citigroup boosted their price target on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. UBS Group reduced their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. TD Cowen upped their target price on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Finally, Truist Financial raised their price target on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.32.

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.