Short Interest in Zions Bancorporation, National Association (NASDAQ:ZION) Decreases By 17.9%

Zions Bancorporation, National Association (NASDAQ:ZION) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 6,420,000 shares, a drop of 17.9% from the July 31st total of 7,820,000 shares. Based on an average trading volume of 1,650,000 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

ZION has been the subject of a number of analyst reports. StockNews.com raised Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group boosted their target price on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Stephens boosted their target price on Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upped their price objective on Zions Bancorporation, National Association from $48.00 to $54.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. Finally, Argus downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus target price of $48.61.

Zions Bancorporation, National Association Stock Performance

Zions Bancorporation, National Association stock traded up $0.17 during mid-day trading on Friday, reaching $49.40. 20,692 shares of the stock traded hands, compared to its average volume of 2,245,893. The business’s 50-day moving average is $46.90 and its 200-day moving average is $43.43. Zions Bancorporation, National Association has a 12-month low of $28.90 and a 12-month high of $53.32. The stock has a market capitalization of $7.30 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 2.96 and a beta of 1.11. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. Zions Bancorporation, National Association had a return on equity of 13.85% and a net margin of 13.53%. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $761.61 million. During the same period in the prior year, the company earned $1.11 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that Zions Bancorporation, National Association will post 4.53 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, August 15th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is 41.21%.

Insider Buying and Selling

In related news, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the transaction, the vice president now owns 17,857 shares of the company’s stock, valued at approximately $925,528.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Terry Alan Shirey sold 1,917 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.78, for a total value of $99,262.26. Following the sale, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bruce K. Alexander sold 5,156 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $51.83, for a total transaction of $267,235.48. Following the completion of the sale, the vice president now owns 17,857 shares in the company, valued at $925,528.31. The disclosure for this sale can be found here. Insiders have sold 67,073 shares of company stock valued at $3,476,298 in the last 90 days. 2.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently modified their holdings of ZION. Price T Rowe Associates Inc. MD boosted its holdings in shares of Zions Bancorporation, National Association by 103.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock worth $7,163,000 after purchasing an additional 4,993,164 shares during the period. Norges Bank bought a new stake in shares of Zions Bancorporation, National Association during the 4th quarter worth approximately $67,694,000. Dimensional Fund Advisors LP lifted its stake in shares of Zions Bancorporation, National Association by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock worth $271,003,000 after acquiring an additional 929,251 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Zions Bancorporation, National Association by 75.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after acquiring an additional 433,513 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Zions Bancorporation, National Association by 197.5% during the 1st quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after acquiring an additional 376,549 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.