Zions Bancorporation, National Association (NASDAQ:ZION) Short Interest Down 31.5% in April

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 1,890,000 shares, a decline of 31.5% from the April 15th total of 2,760,000 shares. Based on an average trading volume of 1,670,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.3% of the shares of the stock are short sold.

Shares of ZION stock opened at $53.56 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.12. Zions Bancorporation, National Association has a 12-month low of $47.06 and a 12-month high of $75.44. The firm has a fifty day moving average of $62.78 and a 200-day moving average of $65.18. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 8.15 and a beta of 1.29.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last posted its earnings results on Monday, April 25th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.12. Zions Bancorporation, National Association had a return on equity of 14.53% and a net margin of 34.40%. The firm had revenue of $694.00 million for the quarter, compared to analyst estimates of $700.11 million. During the same period in the previous year, the company posted $1.90 earnings per share. Research analysts expect that Zions Bancorporation, National Association will post 5.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 19th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, May 18th. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 24.76%.

Zions Bancorporation, National Association announced that its board has initiated a share repurchase program on Friday, January 28th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 30,703 shares of the firm’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $71.85, for a total value of $2,206,010.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James R. Abbott bought 10,000 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was bought at an average cost of $57.03 per share, with a total value of $570,300.00. Following the completion of the purchase, the senior vice president now owns 77,918 shares of the company’s stock, valued at approximately $4,443,663.54. The disclosure for this purchase can be found here. 1.81% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC increased its position in shares of Zions Bancorporation, National Association by 137.1% during the third quarter. SG Americas Securities LLC now owns 9,369 shares of the bank’s stock worth $580,000 after acquiring an additional 5,418 shares in the last quarter. Boston Private Wealth LLC acquired a new position in Zions Bancorporation, National Association in the 3rd quarter worth $228,000. BlackRock Inc. increased its holdings in Zions Bancorporation, National Association by 0.6% during the 3rd quarter. BlackRock Inc. now owns 10,915,354 shares of the bank’s stock worth $675,553,000 after purchasing an additional 69,919 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Zions Bancorporation, National Association by 2.7% in the 3rd quarter. CIBC Asset Management Inc now owns 14,443 shares of the bank’s stock valued at $894,000 after purchasing an additional 373 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Zions Bancorporation, National Association by 20.6% in the third quarter. Teacher Retirement System of Texas now owns 26,073 shares of the bank’s stock valued at $1,614,000 after purchasing an additional 4,454 shares in the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.

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

Zions Bancorporation, National Association Company Profile (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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