Scott Mclean Sells 33,285 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) President Scott Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the sale, the president owned 73,043 shares in the company, valued at $5,159,027.09. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Zions Bancorporation, N.A. Stock Down 1.6%

Shares of NASDAQ:ZION opened at $70.58 on Friday. The company has a market capitalization of $10.38 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.71 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. The business has a fifty day moving average price of $68.22 and a two-hundred day moving average price of $62.86. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

Zions Bancorporation, N.A. announced that its board has initiated a share repurchase program on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

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

More Zions Bancorporation, N.A. News

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: The bank raised its quarterly dividend to $0.48 per share from $0.45, implying an annualized payout of $1.92 and a yield of approximately 2.7%. The board has also authorized a $225 million share-repurchase program, which could support per-share value. Zions Bancorporation dividend and insider transaction report
• Neutral Sentiment: Analyst opinion remains mixed. ZION has a consensus rating of Hold, with an average price target of $71.29, while some firms recently raised targets and maintained positive ratings. Institutional investors own approximately 76.8% of the stock. Zions Bancorporation analyst and institutional ownership data
• Negative Sentiment: President Scott J. McLean sold a combined 83,285 shares in transactions dated August 3–4 for roughly $5.89 million. The sales reduced his holdings substantially, including decreases of 58.73%, 20.23% and 31.30% in the reported positions. Zions executive sells approximately $5.9 million in shares
• Negative Sentiment: EVP Scott Law separately sold 4,608 shares at an average price of $72.42, worth approximately $333,711, reducing his direct ownership by 12.29%. Multiple senior-executive sales in a short period may weigh on investor sentiment, even though insider sales can also reflect diversification or personal financial planning. Zions EVP Scott Law insider sale

Wall Street Analyst Weigh In

ZION has been the subject of a number of research reports. TD Cowen increased their target price 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. Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada upped their price objective on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Truist Financial raised their target price on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, DA Davidson upped their price target on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of “Hold” and a consensus price target of $71.29.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZION. Dimensional Fund Advisors LP grew its position in shares of Zions Bancorporation, N.A. by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after purchasing an additional 56,438 shares in the last quarter. LSV Asset Management lifted its holdings in Zions Bancorporation, N.A. by 1.3% during the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after purchasing an additional 48,346 shares in the last quarter. Morgan Stanley boosted its stake in Zions Bancorporation, N.A. by 10.8% in the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after purchasing an additional 306,717 shares during the period. AQR Capital Management LLC boosted its stake in Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Zions Bancorporation, N.A. by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after buying an additional 30,881 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other 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.