Key Points
- Executive Vice President Derek Steward sold 894 Zions Bancorporation shares at an average price of $69.65, generating $62,267.10. His remaining stake totaled 17,449 shares, a 4.87% reduction.
- Zions authorized a $225 million share-repurchase program covering up to 2.4% of outstanding shares and pays a quarterly dividend of $0.45 per share, equivalent to a 2.6% yield.
- Analysts maintain a consensus “Hold” rating with an average price target of $71.29, while the stock recently traded at $68.92. Institutional investors own approximately 76.84% of the company.
Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) EVP Derek Steward sold 894 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of the transaction, the executive vice president owned 17,449 shares of the company's stock, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Zions Bancorporation, N.A. Price Performance
Shares of NASDAQ:ZION opened at $68.92 on Thursday. The company's fifty day moving average price is $67.21 and its 200 day moving average price is $62.38. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $10.14 billion, a P/E ratio of 8.78, a P/E/G ratio of 1.66 and a beta of 0.80.
Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock repurchase program on Saturday, May 2nd that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.
Zions Bancorporation, N.A. Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 22.93%.
Institutional Investors Weigh In On Zions Bancorporation, N.A.
Institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp acquired a new position in Zions Bancorporation, N.A. during the fourth quarter worth $8,591,000. Basswood Capital Management L.L.C. raised its position in Zions Bancorporation, N.A. by 266.4% in the fourth quarter. Basswood Capital Management L.L.C. now owns 404,520 shares of the bank's stock worth $23,681,000 after acquiring an additional 294,121 shares in the last quarter. LSV Asset Management lifted its holdings in Zions Bancorporation, N.A. by 1.3% in the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank's stock valued at $227,607,000 after acquiring an additional 48,346 shares during the period. Burney Co. purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth $4,762,000. Finally, Qsemble Capital Management LP purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth $3,353,000. Hedge funds and other institutional investors own 76.84% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. 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 report on Tuesday, July 21st. Truist Financial raised their price target on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Citigroup lifted their price target 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. 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 report on Tuesday, July 21st. Finally, Cantor Fitzgerald increased their price objective on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Six equities 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $71.29.
View Our Latest Stock Report on Zions Bancorporation, N.A.
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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