Jennifer Anne Smith Sells 550 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Jennifer Anne Smith sold 550 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $62.96, for a total value of $34,628.00. Following the sale, the executive vice president directly owned 6,527 shares in the company, valued at approximately $410,939.92. The trade was a 7.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jennifer Anne Smith also recently made the following trade(s):

• On Wednesday, February 18th, Jennifer Anne Smith sold 2,089 shares of Zions Bancorporation, N.A. stock. The shares were sold at an average price of $62.48, for a total value of $130,520.72.
• On Friday, February 6th, Jennifer Anne Smith sold 6,558 shares of Zions Bancorporation, N.A. stock. The shares were sold at an average price of $64.80, for a total value of $424,958.40.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock opened at $62.73 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $9.23 billion, a P/E ratio of 9.76, a PEG ratio of 2.13 and a beta of 0.83. The stock’s 50-day moving average is $58.84 and its 200 day moving average is $57.77. Zions Bancorporation, N.A. has a 1-year low of $45.52 and a 1-year high of $66.18.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The business had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Research analysts predict that Zions Bancorporation, N.A. will post 6.4 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. Zions Bancorporation, N.A.’s payout ratio is presently 27.99%.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of institutional investors and hedge funds have recently modified their holdings of ZION. Norges Bank acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth about $105,700,000. Balyasny Asset Management L.P. lifted its holdings in shares of Zions Bancorporation, N.A. by 1,270.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock worth $67,145,000 after purchasing an additional 1,063,303 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Zions Bancorporation, N.A. during the second quarter worth about $32,008,000. Finally, FIL Ltd lifted its holdings in shares of Zions Bancorporation, N.A. by 117.6% during the fourth quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after purchasing an additional 601,610 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZION. Robert W. Baird boosted their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. DA Davidson boosted their price target on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Piper Sandler dropped their price target on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Morgan Stanley dropped their price target on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.53.

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.