Zions Bancorporation NA Sees Unusually Large Options Volume (NASDAQ:ZION)

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Zions Bancorporation NA (NASDAQ:ZION) was the recipient of some unusual options trading on Tuesday. Stock investors bought 2,033 put options on the company. This is an increase of approximately 948% compared to the typical daily volume of 194 put options.

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $53.00 to $47.00 in a research note on Tuesday, July 23rd. Wells Fargo & Co reiterated a “hold” rating on shares of Zions Bancorporation NA in a research note on Friday, August 16th. Bank of America boosted their price objective on Zions Bancorporation NA from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. BidaskClub upgraded Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, SunTrust Banks decreased their target price on Zions Bancorporation NA from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Zions Bancorporation NA has a consensus rating of “Hold” and a consensus price target of $51.53.

In related news, General Counsel Thomas E. Laursen sold 957 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.75, for a total transaction of $38,997.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander Hume sold 9,929 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $45.17, for a total value of $448,492.93. The disclosure for this sale can be found here. Insiders have sold a total of 20,886 shares of company stock worth $936,691 in the last ninety days. Insiders own 1.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. HM Payson & Co. bought a new position in shares of Zions Bancorporation NA in the 2nd quarter worth approximately $26,000. Steward Partners Investment Advisory LLC bought a new position in shares of Zions Bancorporation NA in the 2nd quarter worth approximately $35,000. Doyle Wealth Management bought a new position in shares of Zions Bancorporation NA in the 2nd quarter worth approximately $38,000. Amica Retiree Medical Trust bought a new position in shares of Zions Bancorporation NA in the 2nd quarter worth approximately $39,000. Finally, Valeo Financial Advisors LLC raised its position in shares of Zions Bancorporation NA by 48.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock worth $41,000 after acquiring an additional 295 shares in the last quarter. 95.72% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ZION opened at $45.08 on Thursday. Zions Bancorporation NA has a 52-week low of $38.08 and a 52-week high of $52.82. The firm has a market capitalization of $7.92 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.33 and a beta of 1.53. The stock has a 50 day moving average price of $41.70 and a 200-day moving average price of $45.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 0.83.

Zions Bancorporation NA (NASDAQ:ZION) last announced its earnings results on Monday, July 22nd. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.10). Zions Bancorporation NA had a return on equity of 12.26% and a net margin of 26.99%. The firm had revenue of $701.00 million during the quarter, compared to the consensus estimate of $723.21 million. During the same period in the prior year, the company posted $0.89 EPS. On average, equities analysts forecast that Zions Bancorporation NA will post 4.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.34 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.02%. This is a positive change from Zions Bancorporation NA’s previous quarterly dividend of $0.30. Zions Bancorporation NA’s dividend payout ratio is currently 33.33%.

About Zions Bancorporation NA

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

Further Reading: What is the return on assets (ROA) ratio?

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