Short Interest in Zions Bancorporation, National Association (NASDAQ:ZION) Grows By 27.1%

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

Zions Bancorporation, National Association Stock Performance

NASDAQ:ZION opened at $51.03 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. Zions Bancorporation, National Association has a 1 year low of $38.74 and a 1 year high of $63.22. The stock’s 50 day simple moving average is $55.80 and its two-hundred day simple moving average is $53.55. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.61 and a beta of 1.11.

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

Zions Bancorporation, National Association announced that its Board of Directors has initiated a share repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is 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 given 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 3.37%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 34.75%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZION shares. JPMorgan Chase & Co. dropped their target price on Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Stephens raised their price objective on Zions Bancorporation, National Association from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Compass Point raised their price objective on Zions Bancorporation, National Association from $54.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. DA Davidson raised their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada raised their price objective on Zions Bancorporation, National Association from $61.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Zions Bancorporation, National Association presently has a consensus rating of “Hold” and an average price target of $60.71.

Insiders Place Their Bets

In related news, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the completion of the sale, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,554,136.37. This represents a 17.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 22,673 shares of the firm’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 in the company, valued at $1,655,305.11. The trade was a 43.61 % 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. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, National Association

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Zions Bancorporation, National Association by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock valued at $1,032,775,000 after purchasing an additional 285,588 shares during the period. State Street Corp raised its position in Zions Bancorporation, National Association by 14.6% during the third quarter. State Street Corp now owns 7,041,818 shares of the bank’s stock valued at $332,515,000 after purchasing an additional 896,889 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, National Association by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank’s stock worth $369,295,000 after buying an additional 175,656 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Zions Bancorporation, National Association by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock worth $264,902,000 after buying an additional 194,995 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Zions Bancorporation, National Association by 0.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,698,530 shares of the bank’s stock worth $146,396,000 after buying an additional 14,070 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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.