Scott Law Sells 4,608 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Scott Law sold 4,608 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the transaction, the executive vice president directly owned 32,890 shares of the company’s stock, valued at $2,381,893.80. This represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Zions Bancorporation, N.A. Stock Down 1.6%

ZION stock opened at $70.58 on Friday. The company has a market capitalization of $10.38 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The firm’s fifty day simple moving average is $68.22 and its 200-day simple moving average is $62.86. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.92 annualized dividend and a yield of 2.7%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s payout ratio is 22.93%.

Zions Bancorporation, N.A. declared that its board has authorized a share buyback plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Cantor Fitzgerald upped their target price on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. DA Davidson boosted their price target 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. Morgan Stanley upped their price objective on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Truist Financial lifted their target price on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.29.

More Zions Bancorporation, N.A. News

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: The bank raised its quarterly dividend to $0.48 per share from $0.45, implying an annualized payout of $1.92 and a yield of approximately 2.7%. The board has also authorized a $225 million share-repurchase program, which could support per-share value. Zions Bancorporation dividend and insider transaction report
• Neutral Sentiment: Analyst opinion remains mixed. ZION has a consensus rating of Hold, with an average price target of $71.29, while some firms recently raised targets and maintained positive ratings. Institutional investors own approximately 76.8% of the stock. Zions Bancorporation analyst and institutional ownership data
• Negative Sentiment: President Scott J. McLean sold a combined 83,285 shares in transactions dated August 3–4 for roughly $5.89 million. The sales reduced his holdings substantially, including decreases of 58.73%, 20.23% and 31.30% in the reported positions. Zions executive sells approximately $5.9 million in shares
• Negative Sentiment: EVP Scott Law separately sold 4,608 shares at an average price of $72.42, worth approximately $333,711, reducing his direct ownership by 12.29%. Multiple senior-executive sales in a short period may weigh on investor sentiment, even though insider sales can also reflect diversification or personal financial planning. Zions EVP Scott Law insider sale

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Zions Bancorporation, N.A. by 76.3% in the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after purchasing an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after purchasing an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Zions Bancorporation, N.A. by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after purchasing an additional 2,659 shares during the last quarter. Focus Partners Wealth lifted its position in Zions Bancorporation, N.A. by 91.7% during the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after buying an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Zions Bancorporation, N.A. by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after buying an additional 625 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.