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 Zions Bancorporation, N.A. stock in a transaction dated 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 of the company’s stock, valued at approximately $1,593,262.44. This trade represents a 58.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Zions Bancorporation, N.A. Stock Down 0.1%

NASDAQ:ZION traded down $0.07 during mid-day trading on Wednesday, hitting $71.70. 1,459,855 shares of the company’s stock were exchanged, compared to its average volume of 1,740,123. The company has a market cap of $10.55 billion, a PE ratio of 9.13, a P/E/G 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. has a one year low of $46.19 and a one year high of $73.34. The business has a fifty day moving average price of $67.87 and a 200 day moving average price of $62.70.

Zions Bancorporation, N.A. Increases Dividend

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

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

Wall Street Analyst Weigh In

ZION has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Evercore lowered 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 report on Thursday, July 23rd. JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, July 21st. Citigroup lifted their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Finally, DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.29.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Hedge funds have recently bought and sold shares of the business. Elevation Wealth Partners LLC boosted its holdings in shares of 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 acquiring an additional 349 shares during the last quarter. Torren Management LLC bought a new position in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $32,000. Leonteq Securities AG purchased a new stake in Zions Bancorporation, N.A. in the fourth quarter worth approximately $32,000. Atlas Capital Advisors Inc. bought a new stake in Zions Bancorporation, N.A. in the 4th quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC bought a new stake in Zions Bancorporation, N.A. in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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.