Insider Selling: Zions Bancorporation, National Association (NASDAQ:ZION) Insider Sells 316 Shares of Stock

Zions Bancorporation, National Association (NASDAQ:ZION) insider Robert Ryan Richards sold 316 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $49.48, for a total transaction of $15,635.68. Following the completion of the transaction, the insider now owns 30,354 shares in the company, valued at $1,501,915.92. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Zions Bancorporation, National Association Stock Up 1.9 %

Zions Bancorporation, National Association stock traded up $0.96 during mid-day trading on Wednesday, reaching $50.44. The company’s stock had a trading volume of 1,052,814 shares, compared to its average volume of 1,543,907. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 12 month low of $39.05 and a 12 month high of $63.22. The business’s 50 day simple moving average is $53.30 and its 200 day simple moving average is $53.82. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same quarter last year, the company earned $0.78 EPS. Zions Bancorporation, National Association’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has approved a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is currently 34.75%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Zions Bancorporation, National Association from $62.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Royal Bank of Canada upped their price target on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, January 7th. DA Davidson upped their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group assumed coverage on shares of Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 price target for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average target price of $60.94.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Zions Bancorporation, National Association by 51.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after acquiring an additional 183 shares during the last quarter. Covestor Ltd raised its holdings in shares of Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after purchasing an additional 479 shares during the period. SRS Capital Advisors Inc. lifted its stake in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after purchasing an additional 493 shares during the last quarter. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association during the fourth quarter worth about $62,000. Finally, Natixis bought a new position in Zions Bancorporation, National Association during the fourth quarter worth about $102,000. 76.84% of the stock is owned by institutional investors.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.