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 stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the sale, the executive vice president owned 17,449 shares of the company’s stock, valued at $1,215,322.85. This trade represents a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Zions Bancorporation, N.A. Price Performance
ZION opened at $69.46 on Friday. 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 company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 1.64 and a beta of 0.80. The firm’s fifty day moving average price is $67.36 and its two-hundred day moving average price is $62.45. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.
Zions Bancorporation, N.A. announced that its board has approved a stock buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Zions Bancorporation, N.A. Increases Dividend
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on ZION. DA Davidson upped their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Piper Sandler cut their price objective 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. Stephens lowered their target price on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Evercore downgraded shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective for the company. in a report on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.29.
Check Out Our Latest Analysis on ZION
Hedge Funds Weigh In On Zions Bancorporation, N.A.
Several hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. grew its position in shares of Zions Bancorporation, N.A. by 5.2% during the 1st quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after purchasing an additional 157 shares in the last quarter. Signaturefd LLC lifted its position in Zions Bancorporation, N.A. by 17.1% during the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock valued at $70,000 after purchasing an additional 174 shares during the last quarter. C M Bidwell & Associates Ltd. raised its position in shares of Zions Bancorporation, N.A. by 13.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock valued at $91,000 after buying an additional 185 shares in the last quarter. Michels Family Financial LLC grew its position in Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after acquiring an additional 185 shares in the last quarter. Finally, Alta Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 0.7% during the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after purchasing an additional 203 shares during the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.
Zions Bancorporation, N.A. Company Profile
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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