Zions Bancorporation, N.A. (NASDAQ:ZION) Short Interest Update

Zions Bancorporation, N.A. (NASDAQ:ZION) was the target of a large drop in short interest in January. As of January 30th, there was short interest totaling 5,328,717 shares, a drop of 16.8% from the January 15th total of 6,403,392 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 2,258,824 shares, the short-interest ratio is currently 2.4 days. Based on an average daily volume of 2,258,824 shares, the short-interest ratio is currently 2.4 days. Approximately 3.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZION. Stephens upped their target price on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Robert W. Baird cut shares of Zions Bancorporation, N.A. from an “outperform” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Monday, February 9th. Evercore raised their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.32.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 769 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $60.46, for a total value of $46,493.74. Following the completion of the transaction, the executive vice president directly owned 14,307 shares of the company’s stock, valued at $865,001.22. This represents a 5.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Scott J. Mclean sold 28,980 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $61.15, for a total value of $1,772,127.00. Following the sale, the president owned 82,250 shares of the company’s stock, valued at $5,029,587.50. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 53,302 shares of company stock worth $3,356,517. 1.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZION. Norges Bank acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter worth $105,700,000. AQR Capital Management LLC increased its holdings in shares of Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after acquiring an additional 711,218 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Zions Bancorporation, N.A. in the 2nd quarter valued at about $32,008,000. Balyasny Asset Management L.P. bought a new stake in Zions Bancorporation, N.A. in the 2nd quarter valued at about $31,224,000. Finally, Vanguard Group Inc. boosted its stake in Zions Bancorporation, N.A. by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock valued at $1,002,875,000 after purchasing an additional 582,392 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Trading Up 1.8%

NASDAQ ZION opened at $61.26 on Monday. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $66.18. The company has a 50-day simple moving average of $60.06 and a 200-day simple moving average of $56.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $9.04 billion, a PE ratio of 10.21 and a beta of 0.85.

Zions Bancorporation, N.A. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. Zions Bancorporation, N.A.’s dividend payout ratio is 30.00%.

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.