Key Points
- Insider sale: SVP Jason Arbuckle sold 190 shares of ZION on Feb 20 at an average price of $61.77 for $11,736.30, reducing his stake by 3.49% to 5,257 shares valued at roughly $324,725.
- Dividend announced: Zions paid a quarterly dividend of $0.45 per share (paid Feb 19, ex-dividend Feb 12), equal to a $1.80 annualized payout and a ~3.0% yield with a 30% payout ratio.
- Analyst stance: The consensus rating is "Hold" with an average price target of $63.32 after several firms modestly raised targets and a mix of ratings (1 Strong Buy, 4 Buy, 15 Hold, 1 Sell).
Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) SVP Jason Arbuckle sold 190 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $61.77, for a total transaction of $11,736.30. Following the sale, the senior vice president owned 5,257 shares of the company's stock, valued at approximately $324,724.89. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Zions Bancorporation, N.A. Price Performance
ZION stock opened at $59.30 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 9.88 and a beta of 0.85. The company's fifty day simple moving average is $60.46 and its 200 day simple moving average is $56.67. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $66.18.
Zions Bancorporation, N.A. Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 12th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, February 12th. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 30.00%.
Analyst Ratings Changes
ZION has been the topic of several recent analyst reports. Stephens boosted their price target on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an "equal weight" 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 upped their price objective for the company from $55.00 to $60.00 in a report on Wednesday, November 19th. Piper Sandler raised their target price 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. TD Cowen boosted their target price on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a "hold" rating in a research report on Wednesday, January 21st. Finally, Evercore upped their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an "in-line" rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and an average price target of $63.32.
View Our Latest Research Report on ZION
Institutional Investors Weigh In On Zions Bancorporation, N.A.
A number of institutional investors and hedge funds have recently made changes to their positions in ZION. Thrivent Financial for Lutherans increased its holdings in Zions Bancorporation, N.A. by 6.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank's stock worth $115,483,000 after purchasing an additional 122,815 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Zions Bancorporation, N.A. by 4.5% in the second quarter. LSV Asset Management now owns 3,960,132 shares of the bank's stock valued at $205,689,000 after purchasing an additional 169,085 shares in the last quarter. Bailard Inc. purchased a new position in shares of Zions Bancorporation, N.A. during the third quarter valued at approximately $487,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $452,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at $934,000. Institutional investors and hedge funds own 76.84% of the company's stock.
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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