Traders Purchase High Volume of Put Options on Zions Bancorporation, N.A. (NASDAQ:ZION)

Zions Bancorporation, N.A. (NASDAQ:ZION) was the recipient of some unusual options trading on Tuesday. Investors bought 6,404 put options on the company. This is an increase of approximately 454% compared to the average daily volume of 1,156 put options.

Insider Activity at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

A number of hedge funds and other institutional investors have recently modified their holdings of ZION. Elevation Wealth Partners LLC increased its position in shares of Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after acquiring an additional 349 shares during the last quarter. Torren Management LLC purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $32,000. Leonteq Securities AG bought a new position in Zions Bancorporation, N.A. in the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $36,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

ZION has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. DA Davidson raised their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Royal Bank Of Canada boosted their target price on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, TD Cowen upped their target price on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Trading Down 4.0%

NASDAQ ZION opened at $69.05 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $66.13 and a 200 day simple moving average of $61.99. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The firm has a market capitalization of $10.16 billion, a P/E ratio of 8.80, a PEG ratio of 1.72 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.99%. During the same period in the previous year, the firm earned $1.13 EPS. On average, analysts predict that Zions Bancorporation, N.A. will post 6.49 EPS for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 27.99%.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share buyback program on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Key Stories Impacting Zions Bancorporation, N.A.

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Zions reported Q2 adjusted earnings of $1.74 per share, ahead of estimates, with revenue of $878 million also slightly above forecasts. The bank also highlighted solid year-over-year earnings growth and improved core loan activity. Zions Bancorporation, National Association Reports Second Quarter Financial Results
• Positive Sentiment: Several analysts raised price targets after the earnings release, including DA Davidson, RBC, Wells Fargo, Stephens, and TD Cowen, signaling that Wall Street still sees upside even after the recent run-up. Zions Bancorp Analysts Increase Their Forecasts After Better-Than-Expected Q2 Earnings
• Neutral Sentiment: Recent analyst actions were mixed overall: some firms lifted targets while JPMorgan downgraded the stock to underweight, and several notes still cluster around a hold/neutral view. Analyst rating updates
• Neutral Sentiment: Unusually heavy put-option buying suggests some traders are hedging or betting on near-term downside, which may be adding pressure to sentiment. Options activity
• Negative Sentiment: The stock is under pressure because investors are focusing on the quality of earnings: a large portion of Q2 profit came from investment gains, while net interest margin was flat and deposit growth/loan growth were only modest. Zions Q2 Earnings Beat as Revenues Rise, Stock Dips on Cost Woes
• Negative Sentiment: GF Value and related commentary indicate the shares still look overvalued after the recent rally, which may be limiting buying interest. Zions Bancorp NA Shares Fall 4.0% — GF Value Says Still Overvalued

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.