Key Points
- Zions President Scott McLean sold 28,980 shares on Feb. 2 at an average price of $61.15 for total proceeds of $1.772 million, cutting his stake by 26.05% to 82,250 shares.
- The company declared a quarterly dividend of $0.45 per share (annualized $1.80), with an ex-dividend date of Feb. 12 and payment on Feb. 19, implying a 2.9% yield and a 30% payout ratio.
- Analysts remain broadly neutral with an average rating of "Hold" and a $63.16 target, while institutional investors own about 76.84% of the stock and many funds have recently changed their positions.
Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) EVP Derek Steward sold 769 shares of Zions Bancorporation, N.A. stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $60.46, for a total value of $46,493.74. Following the completion of the sale, the executive vice president owned 14,307 shares of the company's stock, valued at approximately $865,001.22. The trade was a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Zions Bancorporation, N.A. Stock Performance
Shares of NASDAQ:ZION opened at $62.36 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $62.49. The stock has a market capitalization of $9.21 billion, a P/E ratio of 10.39 and a beta of 0.85. The business has a 50-day moving average price of $58.60 and a two-hundred day moving average price of $55.85.
Zions Bancorporation, N.A. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 12th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, February 12th. Zions Bancorporation, N.A.'s dividend payout ratio is currently 30.00%.
Analyst Ratings Changes
Several research firms have weighed in on ZION. UBS Group cut their target price on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 5th. Piper Sandler upped their price target on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company a "neutral" rating in a research note on Wednesday, January 21st. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating and increased their price target for the company from $55.00 to $60.00 in a research report on Wednesday, November 19th. Evercore ISI downgraded shares of Zions Bancorporation, N.A. from an "outperform" rating to a "hold" rating and set a $65.00 target price for the company. in a research note on Tuesday, January 6th. Finally, Stephens increased their target price on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zions Bancorporation, N.A. has a consensus rating of "Hold" and an average price target of $63.16.
Check Out Our Latest Report on ZION
Institutional Trading of Zions Bancorporation, N.A.
A number of large investors have recently bought and sold shares of the business. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 4th quarter worth approximately $32,000. Traub Capital Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at approximately $31,000. Community Bank N.A. bought a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $36,000. Salomon & Ludwin LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the third quarter worth $37,000. Finally, Steph & Co. bought a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at $37,000. 76.84% of the stock is owned by institutional investors.
Zions Bancorporation, N.A. Company Profile
(
Get Free Report)
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.
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