Key Points
- Zions Bancorporation EVP Jennifer Anne Smith sold 4,209 shares on May 8 at an average price of $62.50, totaling about $263,063. She also sold additional shares earlier in May and February.
- The bank reported stronger-than-expected quarterly results, with earnings of $1.56 per share versus the $1.43 consensus estimate and revenue of $859 million.
- Zions approved a $225 million share repurchase plan and a quarterly dividend of $0.45 per share, which implies a 3.0% annualized yield.
Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) EVP Jennifer Anne Smith sold 4,209 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Jennifer Anne Smith also recently made the following trade(s):
- On Monday, May 4th, Jennifer Anne Smith sold 550 shares of Zions Bancorporation, N.A. stock. The stock was sold at an average price of $62.96, for a total value of $34,628.00.
- On Wednesday, February 18th, Jennifer Anne Smith sold 2,089 shares of Zions Bancorporation, N.A. stock. The stock was sold at an average price of $62.48, for a total value of $130,520.72.
Zions Bancorporation, N.A. Price Performance
Zions Bancorporation, N.A. stock opened at $60.80 on Tuesday. Zions Bancorporation, N.A. has a 12 month low of $45.52 and a 12 month high of $66.18. The stock's 50 day moving average is $58.87 and its 200-day moving average is $57.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 2.08 and a beta of 0.83.
Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The company had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same quarter in the prior year, the business earned $1.13 earnings per share. Equities research analysts expect that Zions Bancorporation, N.A. will post 6.41 EPS for the current year.
Zions Bancorporation, N.A. declared that its board has approved a stock repurchase plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.
Zions Bancorporation, N.A. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 27.99%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on ZION shares. Piper Sandler decreased their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Robert W. Baird upped their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 21st. Stephens upped their target price on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 21st. Royal Bank Of Canada upped their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 21st. Finally, Evercore upped their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of "Hold" and a consensus price target of $65.53.
View Our Latest Stock Report on ZION
Institutional Investors Weigh In On Zions Bancorporation, N.A.
Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Zions Bancorporation, N.A. by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 26,776 shares of the bank's stock valued at $1,543,000 after buying an additional 470 shares during the period. Meeder Advisory Services Inc. bought a new stake in shares of Zions Bancorporation, N.A. in the first quarter valued at approximately $301,000. Dimensional Fund Advisors LP boosted its stake in shares of Zions Bancorporation, N.A. by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank's stock valued at $430,813,000 after buying an additional 56,438 shares during the period. Parallel Advisors LLC boosted its stake in shares of Zions Bancorporation, N.A. by 120.2% in the first quarter. Parallel Advisors LLC now owns 1,634 shares of the bank's stock valued at $94,000 after buying an additional 892 shares during the period. Finally, KBC Group NV boosted its stake in shares of Zions Bancorporation, N.A. by 15.2% in the first quarter. KBC Group NV now owns 5,006 shares of the bank's stock valued at $288,000 after buying an additional 661 shares during the period. 76.84% of the stock is currently 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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