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

Zions Bancorporation, N.A. (NASDAQ:ZION) President Scott Mclean sold 33,285 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares of the company’s stock, valued at $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Zions Bancorporation, N.A. Trading Down 0.1%

NASDAQ:ZION opened at $71.70 on Thursday. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34. The firm has a 50-day moving average price of $68.06 and a two-hundred day moving average price of $62.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81.

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

Zions Bancorporation, N.A. Increases Dividend

The firm 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 represents a $1.92 dividend on an annualized basis and a yield of 2.7%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is 22.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ZION shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. JPMorgan Chase & Co. lowered shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target for the company. in a research report on Tuesday, July 21st. Stephens decreased 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 report on Tuesday, July 21st. Wells Fargo & Company lifted their price objective on shares of 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. Finally, Cantor Fitzgerald boosted their target price on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Six 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of Zions Bancorporation, N.A. by 5.2% during the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after purchasing an additional 157 shares in the last quarter. Signaturefd LLC lifted its position in shares of Zions Bancorporation, N.A. by 17.1% in the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock worth $70,000 after buying an additional 174 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its stake in Zions Bancorporation, N.A. by 13.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock valued at $91,000 after buying an additional 185 shares during the last quarter. Michels Family Financial LLC boosted its stake in Zions Bancorporation, N.A. by 1.5% during the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock valued at $711,000 after buying an additional 185 shares during the last quarter. Finally, Alta Capital Management LLC boosted its stake in Zions Bancorporation, N.A. by 0.7% during the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock valued at $1,630,000 after buying an additional 203 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

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.