Shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) saw unusually-strong trading volume on Thursday following insider buying activity. Approximately 2,233,818 shares were traded during mid-day trading, a decline of 47% from the previous session’s volume of 4,253,006 shares.The stock last traded at $20.77 and had previously closed at $22.66.
Specifically, CEO Harris H. Simmons purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average cost of $24.16 per share, for a total transaction of $483,200.00. Following the completion of the purchase, the chief executive officer now owns 1,274,990 shares of the company’s stock, valued at $30,803,758.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Steven Dan Stephens sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $54.42, for a total transaction of $326,520.00. Following the transaction, the executive vice president now owns 38,509 shares in the company, valued at $2,095,659.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Harris H. Simmons acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $24.16 per share, for a total transaction of $483,200.00. Following the purchase, the chief executive officer now directly owns 1,274,990 shares of the company’s stock, valued at $30,803,758.40. The disclosure for this purchase can be found here. Over the last three months, insiders bought 77,000 shares of company stock worth $2,046,880. Corporate insiders own 1.99% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. StockNews.com lowered shares of Zions Bancorporation, National Association from a “hold” rating to a “sell” rating in a research report on Thursday, April 20th. Truist Financial decreased their price target on shares of Zions Bancorporation, National Association from $59.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, March 23rd. Morgan Stanley decreased their price target on shares of Zions Bancorporation, National Association from $59.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. TheStreet cut shares of Zions Bancorporation, National Association from a “b” rating to a “c+” rating in a research report on Thursday, March 23rd. Finally, Royal Bank of Canada lowered their price objective on shares of Zions Bancorporation, National Association from $47.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 20th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.26.
Zions Bancorporation, National Association Stock Performance
Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last announced its earnings results on Wednesday, April 19th. The bank reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.18). Zions Bancorporation, National Association had a return on equity of 19.48% and a net margin of 24.41%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $844.33 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. Analysts expect that Zions Bancorporation, National Association will post 5.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Zions Bancorporation, National Association
A number of large investors have recently modified their holdings of ZION. IAG Wealth Partners LLC acquired a new position in shares of Zions Bancorporation, National Association during the first quarter worth approximately $26,000. Eagle Bay Advisors LLC lifted its holdings in Zions Bancorporation, National Association by 54.8% in the first quarter. Eagle Bay Advisors LLC now owns 2,197 shares of the bank’s stock valued at $29,000 after buying an additional 778 shares during the period. Proficio Capital Partners LLC acquired a new position in Zions Bancorporation, National Association in the first quarter valued at approximately $35,000. Fiduciary Alliance LLC acquired a new position in Zions Bancorporation, National Association in the fourth quarter valued at approximately $36,000. Finally, Ronald Blue Trust Inc. lifted its holdings in Zions Bancorporation, National Association by 58.7% in the fourth quarter. Ronald Blue Trust Inc. now owns 800 shares of the bank’s stock valued at $41,000 after buying an additional 296 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.
Zions Bancorporation, National Association Company Profile
Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.
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