Scott Mclean Sells 32,000 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) President Scott Mclean sold 32,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $70.84, for a total transaction of $2,266,880.00. Following the transaction, the president directly owned 22,491 shares in the company, valued at approximately $1,593,262.44. This represents a 58.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Zions Bancorporation, N.A. Trading Down 0.1%

NASDAQ ZION traded down $0.07 during trading on Wednesday, hitting $71.70. 1,459,855 shares of the company’s stock traded hands, compared to its average volume of 1,740,123. The stock has a fifty day moving average of $67.87 and a two-hundred day moving average of $62.70. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34. The firm has a market cap of $10.55 billion, a P/E 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 current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a stock repurchase program on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ZION shares. TD Cowen boosted their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday. Robert W. Baird increased their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Royal Bank Of Canada upped their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley lifted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.29.

Institutional Trading of Zions Bancorporation, N.A.

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Zions Bancorporation, N.A. by 76.3% during the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after acquiring an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Zions Bancorporation, N.A. by 18.5% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 worth $25,172,000 after purchasing an additional 2,659 shares during the period. Focus Partners Wealth raised its holdings in Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after purchasing an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Zions Bancorporation, N.A. by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after purchasing an additional 625 shares in the last quarter. 76.84% of the stock is 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.