James R. Abbott Acquires 10,000 Shares of Zions Bancorporation, National Association (NASDAQ:ZION) Stock

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) SVP James R. Abbott acquired 10,000 shares of the stock in a transaction dated Monday, May 2nd. The shares were bought at an average price of $57.03 per share, for a total transaction of $570,300.00. Following the transaction, the senior vice president now owns 77,918 shares in the company, valued at approximately $4,443,663.54. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of ZION opened at $57.47 on Wednesday. The firm’s 50-day moving average price is $64.69 and its 200-day moving average price is $65.70. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 8.61 and a beta of 1.29. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.12. Zions Bancorporation, National Association has a 1-year low of $47.06 and a 1-year high of $75.44.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last announced its earnings results on Monday, April 25th. The bank reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.12. Zions Bancorporation, National Association had a net margin of 34.40% and a return on equity of 14.53%. During the same quarter last year, the business posted $1.90 EPS. On average, research analysts forecast that Zions Bancorporation, National Association will post 5.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 19th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, May 18th. Zions Bancorporation, National Association’s payout ratio is 24.76%.

Zions Bancorporation, National Association announced that its Board of Directors has authorized a share repurchase plan on Friday, January 28th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH lifted its position in Zions Bancorporation, National Association by 20.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 5,190 shares of the bank’s stock valued at $328,000 after acquiring an additional 886 shares during the period. UBS Asset Management Americas Inc. lifted its position in Zions Bancorporation, National Association by 3.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 369,140 shares of the bank’s stock valued at $22,846,000 after acquiring an additional 10,804 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Zions Bancorporation, National Association by 3.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 74,828 shares of the bank’s stock valued at $4,726,000 after acquiring an additional 2,247 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Zions Bancorporation, National Association by 60.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 49,125 shares of the bank’s stock valued at $3,040,000 after acquiring an additional 18,495 shares during the period. Finally, Xponance Inc. lifted its position in Zions Bancorporation, National Association by 16.9% during the 4th quarter. Xponance Inc. now owns 9,687 shares of the bank’s stock valued at $612,000 after acquiring an additional 1,400 shares during the period. 82.24% of the stock is currently owned by hedge funds and other institutional investors.

ZION has been the topic of several research reports. StockNews.com assumed coverage on shares of Zions Bancorporation, National Association in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered shares of Zions Bancorporation, National Association from a “strong-buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a report on Monday, March 21st. The Goldman Sachs Group increased their target price on shares of Zions Bancorporation, National Association from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Monday, April 4th. Raymond James lowered shares of Zions Bancorporation, National Association from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, April 26th. Finally, Barclays increased their target price on shares of Zions Bancorporation, National Association from $73.00 to $81.00 and gave the company an “equal weight” rating in a report on Tuesday, April 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.47.

About Zions Bancorporation, National Association (Get Rating)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

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