Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Sells $181,236.15 in Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Christopher Kyriakakis sold 2,703 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $67.05, for a total value of $181,236.15. Following the completion of the sale, the executive vice president owned 36,700 shares in the company, valued at $2,460,735. The trade was a 6.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zions Bancorporation, N.A. Stock Down 0.9%

Zions Bancorporation, N.A. stock opened at $65.95 on Friday. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.10 and a beta of 0.85. Zions Bancorporation, N.A. has a 52-week low of $48.50 and a 52-week high of $73.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $65.05 and a two-hundred day moving average price of $64.08.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 19th. The bank reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.14. Zions Bancorporation, N.A. had a net margin of 24.81% and a return on equity of 13.77%. The company had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $889.52 million. During the same period in the prior year, the company posted $1.48 earnings per share. Equities analysts predict that Zions Bancorporation, N.A. will post 6.73 EPS for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 30th that allows the company to buy back $75 million in outstanding shares. This buyback authorization allows the bank to buy up to 0.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 12th. Zions Bancorporation, N.A.’s payout ratio is currently 23.56%.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

A number of institutional investors have recently modified their holdings of ZION. Ingalls & Snyder LLC grew its position in Zions Bancorporation, N.A. by 152.2% in the 3rd quarter. Ingalls & Snyder LLC now owns 17,545 shares of the bank’s stock valued at $1,099,000 after purchasing an additional 10,589 shares during the period. AlphaGrep UK Ltd increased its stake in Zions Bancorporation, N.A. by 215.5% during the 3rd quarter. AlphaGrep UK Ltd now owns 10,127 shares of the bank’s stock valued at $634,000 after purchasing an additional 6,917 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Zions Bancorporation, N.A. by 5.8% during the third quarter. Hexagon Capital Partners LLC now owns 8,217 shares of the bank’s stock worth $515,000 after buying an additional 453 shares during the last quarter. Private Advisor Group LLC acquired a new position in Zions Bancorporation, N.A. during the third quarter worth $325,000. Finally, Focus Advisor Solutions LLC raised its holdings in Zions Bancorporation, N.A. by 62.7% during the third quarter. Focus Advisor Solutions LLC now owns 12,751 shares of the bank’s stock worth $799,000 after buying an additional 4,912 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ZION. Robert W. Baird raised Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Thursday, October 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $76.00 target price on shares of Zions Bancorporation, N.A. in a research report on Tuesday, October 20th. TD Cowen restated a “hold” rating and issued a $69.00 price target on shares of Zions Bancorporation, N.A. in a report on Tuesday, October 20th. Cantor Fitzgerald decreased their price target on shares of Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Finally, Stephens increased their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.44.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a national bank providing commercial and retail banking services to individuals, businesses, and institutions. Its offerings include business and consumer lending, deposit accounts, treasury management, and related banking services. The bank serves customers across 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through regional banking brands, including Zions Bank, Amegy Bank, California Bank & Trust, and National Bank of Arizona.