Stock Traders Buy Large Volume of Zions Bancorporation, N.A. Put Options (NASDAQ:ZION)

Key Points

• Traders have significantly increased their activity in Zions Bancorporation, acquiring 5,966 put options, representing a 216% increase from the average volume.
• The company recently increased its quarterly dividend from $0.43 to $0.45 per share, resulting in an annualized dividend yield of 3.4%.
• Analysts generally maintain a Hold rating on Zions Bancorporation, with a consensus price target of $61.29.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) was the target of some unusual options trading on Tuesday. Traders acquired 5,966 put options on the company. This represents an increase of approximately 216% compared to the average volume of 1,888 put options.

Zions Bancorporation, N.A. Trading Up 2.3%

Shares of ZION traded up $1.22 during mid-day trading on Tuesday, reaching $53.20. 1,540,553 shares of the company were exchanged, compared to its average volume of 1,675,858. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $7.85 billion, a PE ratio of 9.72, a PEG ratio of 1.07 and a beta of 0.93. The business has a 50 day simple moving average of $55.87 and a two-hundred day simple moving average of $51.63.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings data on Monday, June 12th. The bank reported $1.32 earnings per share (EPS) for the quarter. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%.The company had revenue of $705.00 million during the quarter. On average, analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. Zions Bancorporation, N.A.'s payout ratio is presently 32.91%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ZION shares. Robert W. Baird upgraded Zions Bancorporation, N.A. from a "neutral" rating to an "outperform" rating and set a $65.00 price objective on the stock in a research report on Friday. Piper Sandler lowered their price objective on Zions Bancorporation, N.A. from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Thursday, October 16th. Royal Bank Of Canada increased their price objective on Zions Bancorporation, N.A. from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, TD Cowen started coverage on Zions Bancorporation, N.A. in a research report on Thursday, September 25th. They issued a "hold" rating and a $64.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of "Hold" and a consensus target price of $61.29.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management purchased a new position in Zions Bancorporation, N.A. in the first quarter worth $25,000. Traub Capital Management LLC purchased a new position in Zions Bancorporation, N.A. in the second quarter worth $31,000. Assetmark Inc. boosted its position in Zions Bancorporation, N.A. by 75.3% in the second quarter. Assetmark Inc. now owns 673 shares of the bank's stock worth $35,000 after purchasing an additional 289 shares during the last quarter. Steph & Co. purchased a new position in Zions Bancorporation, N.A. in the third quarter worth $37,000. Finally, Salomon & Ludwin LLC purchased a new position in Zions Bancorporation, N.A. in the third quarter worth $37,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

About Zions Bancorporation, N.A.

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.

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