Zions Bancorporation, N.A. (NASDAQ:ZION) Short Interest Down 13.4% in February

Zions Bancorporation, N.A. (NASDAQ:ZION) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 4,615,386 shares, a drop of 13.4% from the January 29th total of 5,328,717 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily volume of 2,254,665 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 2,254,665 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.2% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial lifted their target price on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Royal Bank Of Canada lifted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 21st. TD Cowen increased their target price on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. Stephens raised their price target on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Finally, Barclays lifted their price target on shares of Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus target price of $63.58.

Insider Activity

In other news, VP Eric Ellingsen sold 1,519 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $61.27, for a total value of $93,069.13. Following the completion of the sale, the vice president owned 40,361 shares of the company’s stock, valued at approximately $2,472,918.47. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Derek Steward sold 769 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $60.46, for a total transaction of $46,493.74. Following the transaction, the executive vice president owned 14,307 shares of the company’s stock, valued at approximately $865,001.22. The trade was a 5.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 55,581 shares of company stock valued at $3,498,774. 1.77% of the stock is currently owned by company insiders.

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

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at about $105,700,000. Balyasny Asset Management L.P. grew its position in Zions Bancorporation, N.A. by 1,270.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock worth $67,145,000 after purchasing an additional 1,063,303 shares in the last quarter. AQR Capital Management LLC increased its stake in 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 valued at $167,677,000 after buying an additional 711,218 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $32,008,000. Finally, FIL Ltd lifted its position in shares of Zions Bancorporation, N.A. by 117.6% during the 4th quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after buying an additional 601,610 shares in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $57.65 on Wednesday. Zions Bancorporation, N.A. has a 1-year low of $39.32 and a 1-year high of $66.18. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 9.61 and a beta of 0.83. The company’s fifty day moving average price is $60.39 and its two-hundred day moving average price is $56.93. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 12th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 30.00%.

About Zions Bancorporation, N.A.

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.