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 Zions Bancorporation, N.A. stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the transaction, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zions Bancorporation, N.A. Stock Down 0.1%

Shares of ZION stock traded down $0.07 during trading hours on Wednesday, reaching $71.70. The company had a trading volume of 1,459,855 shares, compared to its average volume of 1,740,123. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.69 and a beta of 0.81. 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. has a 12 month low of $46.19 and a 12 month high of $73.34. The business has a fifty day simple moving average of $67.87 and a 200-day simple moving average of $62.70.

Zions Bancorporation, N.A. announced that its Board of Directors 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend 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 22.93%.

Wall Street Analyst Weigh In

Several research firms have commented on ZION. Morgan Stanley lifted their target price on shares of 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. Citigroup boosted their price objective 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. DA Davidson lifted their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Truist Financial increased their price target on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Cantor Fitzgerald lifted their price objective on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.29.

Institutional Trading of Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently bought and sold shares of ZION. Handelsbanken Fonder AB boosted its holdings in Zions Bancorporation, N.A. by 17.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank’s stock valued at $3,190,000 after purchasing an additional 6,700 shares during the period. Arista Wealth Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at about $230,000. Everhart Financial Group Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at about $224,000. Beacon Investment Advisory Services Inc. grew its holdings in shares of Zions Bancorporation, N.A. by 12.6% during the second quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank’s stock worth $892,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its position in shares of Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, N.A.

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.