Investors Purchase High Volume of Zions Bancorporation, National Association Call Options (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) was the recipient of unusually large options trading activity on Friday. Investors acquired 9,597 call options on the company. This represents an increase of 161% compared to the typical volume of 3,671 call options.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZION. Stephens raised their price target on shares of Zions Bancorporation, National Association from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Morgan Stanley raised their target price on Zions Bancorporation, National Association from $42.00 to $54.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Compass Point upped their price target on Zions Bancorporation, National Association from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Argus lowered Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group boosted their target price on Zions Bancorporation, National Association from $47.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.61.

Zions Bancorporation, National Association Stock Performance

Shares of ZION stock opened at $49.91 on Friday. The company’s fifty day moving average price is $46.09 and its 200-day moving average price is $43.09. The stock has a market cap of $7.37 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.81 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.11. Zions Bancorporation, National Association has a 12 month low of $28.90 and a 12 month high of $53.32.

Zions Bancorporation, National Association (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.10 by $0.18. The business had revenue of $776.00 million for the quarter, compared to analyst estimates of $761.61 million. Zions Bancorporation, National Association had a net margin of 13.53% and a return on equity of 13.85%. Zions Bancorporation, National Association’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.11 earnings per share. On average, equities analysts expect that Zions Bancorporation, National Association will post 4.53 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.64 annualized dividend and a dividend yield of 3.29%. Zions Bancorporation, National Association’s payout ratio is currently 41.21%.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Terry Alan Shirey sold 1,917 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the sale, the executive vice president now directly owns 24,640 shares in the company, valued at $1,275,859.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Scott J. Mclean sold 60,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.83, for a total transaction of $3,109,800.00. Following the completion of the sale, the president now owns 74,286 shares of the company’s stock, valued at $3,850,243.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Terry Alan Shirey sold 1,917 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.78, for a total transaction of $99,262.26. Following the completion of the transaction, the executive vice president now owns 24,640 shares in the company, valued at approximately $1,275,859.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,073 shares of company stock valued at $3,476,298. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Zions Bancorporation, National Association by 103.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 165,025 shares of the bank’s stock worth $7,163,000 after acquiring an additional 4,993,164 shares during the last quarter. Norges Bank purchased a new stake in Zions Bancorporation, National Association during the 4th quarter valued at about $67,694,000. Dimensional Fund Advisors LP increased its stake in Zions Bancorporation, National Association by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,836 shares of the bank’s stock valued at $271,003,000 after purchasing an additional 929,251 shares in the last quarter. AQR Capital Management LLC raised its holdings in Zions Bancorporation, National Association by 75.0% in the second quarter. AQR Capital Management LLC now owns 1,011,900 shares of the bank’s stock worth $43,294,000 after buying an additional 433,513 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Zions Bancorporation, National Association by 197.5% in the first quarter. Principal Financial Group Inc. now owns 567,198 shares of the bank’s stock worth $24,616,000 after buying an additional 376,549 shares in the last quarter. Institutional investors 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.