Jennifer Anne Smith Sells 550 Shares of Zions Bancorporation, N.A. (NASDAQ:ZION) Stock

Key Points

• Jennifer Anne Smith, an EVP at Zions, sold 550 shares on May 4 at an average price of $62.96 for $34,628, leaving her with 6,527 shares (a 7.77% reduction); she also disclosed larger sales in February.
• Zions beat Q1 estimates with EPS of $1.56 (vs. $1.43) and $859M revenue, and its board approved a $225 million share buyback (≈2.4% of shares) while declaring a quarterly dividend of $0.45 per share (2.8% yield; ex-dividend May 14).
• The stock trades near $64 with a market cap of about $9.4B, and analysts hold a consensus "Hold" rating with an average target price of $65.53.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) EVP Jennifer Anne Smith sold 550 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $62.96, for a total transaction of $34,628.00. Following the transaction, the executive vice president owned 6,527 shares of the company's stock, valued at approximately $410,939.92. This represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, February 18th, Jennifer Anne Smith sold 2,089 shares of Zions Bancorporation, N.A. stock. The shares were sold at an average price of $62.48, for a total value of $130,520.72.
• On Friday, February 6th, Jennifer Anne Smith sold 6,558 shares of Zions Bancorporation, N.A. stock. The shares were sold at an average price of $64.80, for a total value of $424,958.40.

Zions Bancorporation, N.A. Price Performance

Shares of Zions Bancorporation, N.A. stock traded up $0.86 during trading on Wednesday, reaching $63.99. 2,255,328 shares of the company's stock were exchanged, compared to its average volume of 1,797,119. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation, N.A. has a 1-year low of $45.24 and a 1-year high of $66.18. The company has a market cap of $9.41 billion, a P/E ratio of 9.95, a PEG ratio of 2.13 and a beta of 0.83. The firm's 50-day moving average price is $58.68 and its 200 day moving average price is $57.55.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period last year, the firm posted $1.13 earnings per share. As a group, research analysts anticipate that Zions Bancorporation, N.A. will post 6.4 earnings per share for the current year.

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

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, May 14th. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is 27.99%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZION shares. Brean Capital initiated coverage on shares of Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They issued a "neutral" rating on the stock. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday, April 21st. Piper Sandler cut their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings upgraded Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $65.53.

Institutional Trading of Zions Bancorporation, N.A.

Several hedge funds have recently modified their holdings of the stock. M&T Bank Corp acquired a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at about $8,591,000. Thrivent Financial for Lutherans grew its stake in shares of Zions Bancorporation, N.A. by 6.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank's stock valued at $115,483,000 after buying an additional 122,815 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at about $934,000. Bailard Inc. acquired a new position in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $487,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Zions Bancorporation, N.A. by 39.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,763 shares of the bank's stock worth $5,079,000 after buying an additional 25,292 shares during the period. 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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