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

Zions Bancorporation, N.A. (NASDAQ:ZION) President Scott Mclean sold 33,285 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the transaction, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock traded down $0.07 on Wednesday, reaching $71.70. 1,459,855 shares of the company were exchanged, compared to its average volume of 1,740,123. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 1.69 and a beta of 0.81. The business has a 50-day moving average price of $67.87 and a 200 day moving average price of $62.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

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 issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, August 13th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s payout ratio is currently 22.93%.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a share repurchase plan on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. DA Davidson raised their price objective on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Truist Financial raised 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 note on Friday, July 10th. TD Cowen upped their price objective on shares of 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. Robert W. Baird raised their target price on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Finally, Evercore lowered Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.29.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Zions Bancorporation, N.A. by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock worth $430,813,000 after acquiring an additional 56,438 shares during the last quarter. LSV Asset Management lifted its stake in shares of Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after purchasing an additional 48,346 shares during the last quarter. Morgan Stanley grew its holdings in shares of Zions Bancorporation, N.A. by 10.8% during the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after purchasing an additional 306,717 shares during the period. AQR Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 31.6% during the 3rd 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 last quarter. Finally, Geode Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock worth $173,501,000 after purchasing an additional 30,881 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

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.