Insider Selling: Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Sells $333,711.36 in Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Scott Law sold 4,608 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total value of $333,711.36. Following the sale, the executive vice president directly owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Zions Bancorporation, N.A. Stock Performance

Shares of Zions Bancorporation, N.A. stock opened at $70.32 on Friday. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34. The business’s fifty day simple moving average is $68.38 and its 200-day simple moving average is $62.91. The firm has a market cap of $10.34 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 1.68 and a beta of 0.81. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26.

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

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 22.93%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Morgan Stanley upped their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Truist Financial increased their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Stephens dropped their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada boosted their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.29.

Institutional Trading of Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Advisory Services Inc. acquired a new stake in shares of Zions Bancorporation, N.A. during the second quarter worth about $485,000. Meeder Asset Management Inc. acquired a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at approximately $612,000. BlackRock Inc. acquired a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at approximately $982,244,000. Pallas Capital Advisors LLC purchased a new stake in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $484,000. Finally, Deutsche Bank AG purchased a new stake in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $71,767,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.