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FB   249.20 (+0.07%)
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Zions Bancorporation NA Target of Unusually High Options Trading (NASDAQ:ZION)

Last updated on Friday, September 18, 2020 | 2020 MarketBeat

Zions Bancorporation NA (NASDAQ:ZION) was the recipient of some unusual options trading activity on Thursday. Investors bought 2,090 put options on the stock. This is an increase of 2,197% compared to the average daily volume of 91 put options.

In other Zions Bancorporation NA news, EVP Terry Alan Shirey sold 15,572 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $35.77, for a total value of $557,010.44. Following the completion of the transaction, the executive vice president now directly owns 22,133 shares of the company's stock, valued at approximately $791,697.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.81% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. First Republic Investment Management Inc. grew its holdings in Zions Bancorporation NA by 3.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 8,429 shares of the bank's stock worth $287,000 after acquiring an additional 293 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Zions Bancorporation NA by 94.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 863 shares of the bank's stock worth $29,000 after acquiring an additional 420 shares during the last quarter. Berman Capital Advisors LLC grew its holdings in Zions Bancorporation NA by 170.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 916 shares of the bank's stock worth $31,000 after acquiring an additional 577 shares during the last quarter. Comerica Bank grew its holdings in Zions Bancorporation NA by 2.0% in the 2nd quarter. Comerica Bank now owns 33,180 shares of the bank's stock worth $1,104,000 after acquiring an additional 652 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in Zions Bancorporation NA by 6.5% in the 2nd quarter. New Mexico Educational Retirement Board now owns 11,472 shares of the bank's stock worth $390,000 after acquiring an additional 700 shares during the last quarter. 86.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:ZION opened at $31.52 on Friday. The stock has a market cap of $5.17 billion, a PE ratio of 12.51, a PEG ratio of 3.47 and a beta of 1.62. The company's fifty day moving average is $32.90 and its 200 day moving average is $31.98. Zions Bancorporation NA has a 52 week low of $23.58 and a 52 week high of $52.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

Zions Bancorporation NA (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 20th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The firm had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.13 million. Zions Bancorporation NA had a return on equity of 7.46% and a net margin of 15.70%. During the same period last year, the business earned $0.99 EPS. Sell-side analysts anticipate that Zions Bancorporation NA will post 2.08 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, August 12th. Zions Bancorporation NA's dividend payout ratio (DPR) is presently 31.41%.

Several research analysts have commented on ZION shares. SunTrust Banks cut their price target on shares of Zions Bancorporation NA from $50.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Wolfe Research began coverage on shares of Zions Bancorporation NA in a research report on Friday, July 31st. They set an "underperform" rating on the stock. BidaskClub cut shares of Zions Bancorporation NA from a "sell" rating to a "strong sell" rating in a research report on Thursday, September 3rd. Morgan Stanley raised their price objective on shares of Zions Bancorporation NA from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Monday, June 8th. Finally, Bank of America lowered their price objective on shares of Zions Bancorporation NA from $40.00 to $39.00 and set a "neutral" rating on the stock in a research report on Friday, July 10th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Zions Bancorporation NA has an average rating of "Hold" and an average target price of $39.06.

About Zions Bancorporation NA

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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