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 Zions Bancorporation, N.A. stock in a transaction dated 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 sale, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. This represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Zions Bancorporation, N.A. Stock Up 0.3%

ZION stock opened at $69.70 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $10.25 billion, a P/E ratio of 8.88, a P/E/G ratio of 1.66 and a beta of 0.80. The business has a 50-day moving average of $67.51 and a 200-day moving average of $62.50. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34.

Zions Bancorporation, N.A. announced that its board has approved a stock buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.8%. 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ZION shares. Royal Bank Of Canada raised their price target on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Stephens reduced their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. TD Cowen raised their target price on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. lowered shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a research note on Tuesday, July 21st. Finally, Truist Financial boosted their price target on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.29.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at $105,700,000. Balyasny Asset Management L.P. increased its holdings in 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 buying an additional 1,063,303 shares during the last quarter. AQR Capital Management LLC increased its holdings in 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 buying an additional 711,218 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Zions Bancorporation, N.A. during the second quarter worth $32,008,000. Finally, FIL Ltd lifted its stake in Zions Bancorporation, N.A. by 117.6% in the fourth quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock valued at $65,160,000 after acquiring an additional 601,610 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

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.