Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Derek Steward Sells 894 Shares

Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the transaction, the executive vice president directly owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Zions Bancorporation, N.A. Trading Down 0.9%

NASDAQ ZION opened at $68.92 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.66 and a beta of 0.80. The firm has a 50 day simple moving average of $67.21 and a 200-day simple moving average of $62.38. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 22.93%.

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

Analyst Ratings Changes

Several analysts have recently issued reports on ZION shares. Robert W. Baird increased their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Piper Sandler lowered their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. JPMorgan Chase & Co. downgraded Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a report on Tuesday, July 21st. Truist Financial increased their price target on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Citigroup boosted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Six 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 stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and an average target price of $71.29.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC raised its stake in Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after buying an additional 349 shares in the last quarter. Torren Management LLC acquired a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $32,000. Leonteq Securities AG purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

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.