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 on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the sale, the executive vice president owned 32,890 shares in the company, valued at approximately $2,381,893.80. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Zions Bancorporation, N.A. Price Performance

ZION traded down $0.07 during trading on Wednesday, reaching $71.70. The stock had a trading volume of 1,459,855 shares, compared to its average volume of 1,740,123. The stock has a market cap of $10.55 billion, a PE ratio of 9.13, a PEG ratio of 1.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. The business has a 50-day moving average of $67.87 and a 200-day moving average of $62.70.

Zions Bancorporation, N.A. Increases Dividend

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

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a share buyback plan on Saturday, May 2nd that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on ZION shares. Barclays upped their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 22nd. Stephens cut their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Citigroup increased their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Evercore downgraded shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a research note on Thursday, July 23rd. Finally, TD Cowen raised their price objective on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and an average price target of $71.29.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

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

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.