Zions Bancorporation, National Association (NASDAQ:ZION) Short Interest Up 27.1% in February

Zions Bancorporation, National Association (NASDAQ:ZION) was the recipient of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 5,200,000 shares, an increase of 27.1% from the January 31st total of 4,090,000 shares. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is currently 4.1 days. Currently, 3.6% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

ZION has been the subject of several recent research reports. The Goldman Sachs Group raised Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, January 7th. DA Davidson upped their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group started coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They set a “neutral” rating and a $64.00 target price on the stock. Compass Point upped their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price objective on Zions Bancorporation, National Association from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.71.

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $51.28 on Thursday. The stock has a market cap of $7.58 billion, a P/E ratio of 10.36, a PEG ratio of 1.61 and a beta of 1.10. The stock has a 50 day simple moving average of $55.80 and a 200 day simple moving average of $53.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Zions Bancorporation, National Association has a 1-year low of $39.05 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. The business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. Research analysts anticipate that Zions Bancorporation, National Association will post 5.39 earnings per share for the current year.

Zions Bancorporation, National Association declared that its board has approved a share buyback program on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.35%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Insider Buying and Selling at Zions Bancorporation, National Association

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 22,673 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $56.47, for a total value of $1,280,344.31. Following the completion of the transaction, the executive vice president now directly owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $55.71, for a total value of $557,100.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,554,136.37. The trade was a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,713 shares of company stock valued at $1,839,686. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in Zions Bancorporation, National Association by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after acquiring an additional 183 shares during the period. Covestor Ltd increased its stake in Zions Bancorporation, National Association by 128.1% during the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock worth $46,000 after acquiring an additional 479 shares during the period. SRS Capital Advisors Inc. increased its stake in Zions Bancorporation, National Association by 120.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock worth $49,000 after acquiring an additional 493 shares during the period. Millstone Evans Group LLC bought a new position in Zions Bancorporation, National Association during the 4th quarter worth $62,000. Finally, Natixis bought a new position in Zions Bancorporation, National Association during the 4th quarter worth $102,000. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, National Association 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.