Insider Selling: Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Sells 4,209 Shares of Stock

Key Points

• Insider selling: Zions Bancorporation EVP Jennifer Anne Smith sold 4,209 shares on May 8 at an average price of $62.50, totaling about $263,063. She also sold additional shares earlier in May and in February.
• Company performance: Zions reported quarterly earnings of $1.56 per share, beating analyst expectations, and revenue of $859 million, slightly above estimates. Analysts still expect full-year EPS of 6.41.
• Shareholder returns and sentiment: The bank declared a quarterly dividend of $0.45 per share and authorized a $225 million share buyback. Analyst ratings are mixed, with the stock carrying an overall Hold rating and an average target price of $65.53.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) EVP Jennifer Anne Smith sold 4,209 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Jennifer Anne Smith also recently made the following trade(s):

• On Monday, May 4th, Jennifer Anne Smith sold 550 shares of Zions Bancorporation, N.A. stock. The stock was sold at an average price of $62.96, for a total transaction of $34,628.00.
• On Wednesday, February 18th, Jennifer Anne Smith sold 2,089 shares of Zions Bancorporation, N.A. stock. The stock was sold at an average price of $62.48, for a total transaction of $130,520.72.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION traded down $1.71 during midday trading on Monday, reaching $60.79. 2,077,393 shares of the company were exchanged, compared to its average volume of 1,790,347. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The business's fifty day moving average is $58.84 and its two-hundred day moving average is $57.77. Zions Bancorporation, N.A. has a one year low of $45.52 and a one year high of $66.18. The stock has a market cap of $8.94 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 2.08 and a beta of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same quarter in the prior year, the business earned $1.13 earnings per share. As a group, analysts predict that Zions Bancorporation, N.A. will post 6.41 earnings per share for the current year.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 27.99%.

Zions Bancorporation, N.A. announced that its board has initiated a share buyback plan on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Zions Bancorporation, N.A. from $75.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada upped their price target on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 21st. TD Cowen increased their target price on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Tuesday, April 21st. Citigroup increased their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, April 22nd. Finally, Robert W. Baird increased their target price on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $65.53.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Torren Management LLC purchased a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Leonteq Securities AG purchased a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Community Bank N.A. purchased a new position in Zions Bancorporation, N.A. in the 3rd quarter worth about $36,000. Atlas Capital Advisors Inc. purchased a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $36,000. Finally, V Square Quantitative Management LLC purchased a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $42,000. Hedge funds and other 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.

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