Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Scott Law Sells 4,608 Shares of Stock

Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Scott Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, the executive vice president owned 32,890 shares in the company, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock opened at $71.70 on Thursday. The business has a fifty day simple moving average of $68.06 and a 200 day simple moving average of $62.78. The company has a market cap of $10.55 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.71 and a beta of 0.81. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34.

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 issued 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 of this dividend is Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s payout ratio is presently 24.46%.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZION. Royal Bank of Canada increased its stake in shares of Zions Bancorporation, N.A. by 76.3% in the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after buying an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Zions Bancorporation, N.A. by 18.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after purchasing an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Zions Bancorporation, N.A. by 0.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after purchasing an additional 2,659 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Zions Bancorporation, N.A. by 91.7% in the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 10,283 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Zions Bancorporation, N.A. by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after buying an additional 625 shares during the period. 76.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ZION. Weiss Ratings reiterated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. Wells Fargo & Company boosted their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Robert W. Baird increased their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Stephens cut their price target on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, Citigroup boosted their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Six research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.29.

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.