Zions Bancorporation, National Association (NASDAQ:ZION) Short Interest Down 17.7% in December

Zions Bancorporation, National Association (NASDAQ:ZION) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 4,500,000 shares, a drop of 17.7% from the December 15th total of 5,470,000 shares. Based on an average daily volume of 1,320,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.1% of the shares of the stock are sold short.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $57.28 on Friday. The business has a 50 day moving average price of $57.31 and a two-hundred day moving average price of $51.40. Zions Bancorporation, National Association has a fifty-two week low of $37.76 and a fifty-two week high of $63.22. The firm has a market cap of $8.46 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 2.86 and a beta of 1.12. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same quarter last year, the company earned $1.13 earnings per share. Sell-side analysts expect that Zions Bancorporation, National Association will post 4.85 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.72 annualized dividend and a yield of 3.00%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio is presently 39.18%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ZION. UBS Group assumed coverage on Zions Bancorporation, National Association in a report on Tuesday, December 17th. They issued a “neutral” rating and a $64.00 target price on the stock. Barclays boosted their target price on Zions Bancorporation, National Association from $52.00 to $59.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Truist Financial raised their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Zions Bancorporation, National Association from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their target price on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and an average target price of $58.25.

Insider Buying and Selling

In related news, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, the vice president now owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the transaction, the executive vice president now owns 86,232 shares in the company, valued at approximately $5,265,325.92. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,881 shares of company stock worth $1,108,184. 2.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in shares of Zions Bancorporation, National Association during the 3rd quarter valued at approximately $28,000. Abich Financial Wealth Management LLC raised its holdings in shares of Zions Bancorporation, National Association by 26.4% during the second quarter. Abich Financial Wealth Management LLC now owns 1,417 shares of the bank’s stock worth $61,000 after purchasing an additional 296 shares during the period. Acadian Asset Management LLC bought a new position in shares of Zions Bancorporation, National Association in the 2nd quarter worth about $101,000. Venturi Wealth Management LLC lifted its position in shares of Zions Bancorporation, National Association by 209.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after buying an additional 1,671 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Zions Bancorporation, National Association in the 3rd quarter valued at about $119,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

About Zions Bancorporation, National Association

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.