Zions Bancorporation NA Target of Unusually Large Options Trading (NASDAQ:ZION)

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Zions Bancorporation NA (NASDAQ:ZION) was the target of some unusual options trading activity on Monday. Stock investors purchased 3,184 call options on the stock. This represents an increase of 1,278% compared to the typical volume of 231 call options.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Zions Bancorporation NA to $54.00 and gave the company an “outperform” rating in a research note on Tuesday. ValuEngine upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Piper Jaffray Companies cut their target price on shares of Zions Bancorporation NA from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods cut shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $53.00 to $47.00 in a report on Tuesday, July 23rd. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Zions Bancorporation NA in a report on Friday, August 16th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.18.

In related news, insider A Scott Anderson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $44.92, for a total value of $449,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander Hume sold 9,929 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $45.17, for a total transaction of $448,492.93. The disclosure for this sale can be found here. Insiders sold a total of 20,886 shares of company stock valued at $936,691 over the last quarter. 1.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ZION. Victory Capital Management Inc. raised its holdings in Zions Bancorporation NA by 386.2% in the 2nd quarter. Victory Capital Management Inc. now owns 4,040,695 shares of the bank’s stock valued at $185,790,000 after acquiring an additional 3,209,650 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Zions Bancorporation NA by 54,145.4% during the second quarter. Nuveen Asset Management LLC now owns 2,425,310 shares of the bank’s stock worth $111,516,000 after purchasing an additional 2,420,839 shares during the period. Invesco Ltd. increased its holdings in shares of Zions Bancorporation NA by 19.9% during the second quarter. Invesco Ltd. now owns 11,559,438 shares of the bank’s stock worth $531,503,000 after purchasing an additional 1,919,673 shares during the period. BlackRock Inc. increased its holdings in shares of Zions Bancorporation NA by 11.8% during the second quarter. BlackRock Inc. now owns 14,036,257 shares of the bank’s stock worth $645,387,000 after purchasing an additional 1,477,302 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Zions Bancorporation NA by 42.5% during the second quarter. Wells Fargo & Company MN now owns 3,258,511 shares of the bank’s stock worth $149,826,000 after purchasing an additional 971,840 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation NA stock opened at $48.08 on Wednesday. The stock has a market cap of $7.91 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.66 and a beta of 1.55. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.18. Zions Bancorporation NA has a twelve month low of $38.08 and a twelve month high of $51.81. The company’s 50-day moving average price is $43.63 and its two-hundred day moving average price is $44.63.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.09. The firm had revenue of $713.00 million for the quarter, compared to analysts’ expectations of $709.29 million. Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. During the same period in the prior year, the firm earned $1.04 EPS. Equities analysts anticipate that Zions Bancorporation NA will post 4.19 earnings per share for the current fiscal year.

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.

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