Zions Bancorporation, N.A. Sees Unusually High Options Volume (NASDAQ:ZION)

Zions Bancorporation, N.A. (NASDAQ:ZION) saw unusually large options trading activity on Tuesday. Stock investors purchased 5,966 put options on the stock. This represents an increase of 216% compared to the average volume of 1,888 put options.

Zions Bancorporation, N.A. Stock Up 1.4%

NASDAQ:ZION opened at $52.70 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.80. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The company’s 50-day simple moving average is $55.86 and its 200-day simple moving average is $51.64. The stock has a market capitalization of $7.78 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.12 and a beta of 0.93.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, June 12th. The bank reported $1.32 EPS for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.84%. The business had revenue of $705.00 million during the quarter. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, August 14th. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.43. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 32.91%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Zacks Research cut shares of Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Piper Sandler dropped their target price on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Citigroup increased their target price on shares of Zions Bancorporation, N.A. from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Zions Bancorporation, N.A. in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Zions Bancorporation, N.A. from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus target price of $61.60.

Institutional Trading of Zions Bancorporation, N.A.

Several institutional investors and hedge funds have recently bought and sold shares of ZION. Picton Mahoney Asset Management acquired a new stake in Zions Bancorporation, N.A. during the 1st quarter valued at approximately $25,000. Traub Capital Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $31,000. Assetmark Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 75.3% in the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after purchasing an additional 289 shares during the period. Steph & Co. acquired a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at $37,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at $37,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Company Profile

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.