Key Points
- Executive sale: EVP Scott Law sold 4,608 Zions Bancorporation shares at an average price of $72.42, totaling $333,711.36. His direct ownership fell 12.29% to 32,890 shares.
- Dividend increased: Zions raised its quarterly dividend from $0.45 to $0.48 per share, equivalent to an annualized $1.92 payout and a 2.7% yield.
- Analyst view remains mixed: The stock has a consensus “Hold” rating, with six Buy, twelve Hold, and two Sell ratings and an average price target of $71.29. The company also authorized a $225 million share-repurchase program.
Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) EVP Scott Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Zions Bancorporation, N.A. Stock Down 0.1%
Shares of Zions Bancorporation, N.A. stock opened at $71.70 on Thursday. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year 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 stock's 50-day moving average is $68.06 and its 200 day moving average is $62.78. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.71 and a beta of 0.81.
Zions Bancorporation, N.A. Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, August 13th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is currently 24.46%.
Zions Bancorporation, N.A. declared that its board has initiated a share repurchase program on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Stephens dropped their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. TD Cowen raised their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Morgan Stanley lifted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Finally, Barclays raised their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an "underweight" rating in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of "Hold" and an average price target of $71.29.
Read Our Latest Research Report on Zions Bancorporation, N.A.
Institutional Trading of Zions Bancorporation, N.A.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its position in Zions Bancorporation, N.A. by 528.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank's stock valued at $29,000 after acquiring an additional 349 shares in the last quarter. Torren Management LLC purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth about $36,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth about $42,000. Institutional investors 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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