Zions Bancorporation, National Association (NASDAQ:ZION) Short Interest Up 27.1% in February

Zions Bancorporation, National Association (NASDAQ:ZION) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 5,200,000 shares, a growth of 27.1% from the January 31st total of 4,090,000 shares. Based on an average daily volume of 1,260,000 shares, the short-interest ratio is currently 4.1 days. Approximately 3.6% of the company’s stock are short sold.

Zions Bancorporation, National Association Trading Up 0.5 %

Shares of ZION opened at $51.28 on Thursday. The stock has a fifty day moving average price of $55.80 and a two-hundred day moving average price of $53.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, National Association has a 52-week low of $39.05 and a 52-week high of $63.22. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.61 and a beta of 1.10.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. Analysts predict that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.35%. Zions Bancorporation, National Association’s payout ratio is currently 34.75%.

Zions Bancorporation, National Association announced that its board has authorized a share repurchase program on Monday, February 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZION shares. Wells Fargo & Company raised their target price on Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. lowered their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, January 7th. Royal Bank of Canada raised their target price on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, January 22nd. Finally, UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 price objective on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.71.

Insider Transactions at Zions Bancorporation, National Association

In related news, EVP Steven Dan Stephens sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total value of $557,100.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. This trade represents a 17.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the transaction, the executive vice president now directly owns 29,313 shares in the company, valued at $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,713 shares of company stock valued at $1,839,686 in the last three months. Corporate insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Zions Bancorporation, National Association by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after acquiring an additional 183 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Zions Bancorporation, National Association by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank’s stock worth $245,000 after purchasing an additional 224 shares during the period. Contravisory Investment Management Inc. grew its stake in shares of Zions Bancorporation, National Association by 1.5% during the fourth quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank’s stock worth $937,000 after purchasing an additional 249 shares during the period. Jackson Creek Investment Advisors LLC grew its stake in shares of Zions Bancorporation, National Association by 3.3% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank’s stock worth $490,000 after purchasing an additional 285 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Zions Bancorporation, National Association by 4.7% during the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank’s stock worth $364,000 after purchasing an additional 303 shares during the period. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association Company Profile

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.