Short Interest in Zions Bancorporation, National Association (NASDAQ:ZION) Declines By 17.2%

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 4,800,000 shares, a drop of 17.2% from the March 15th total of 5,800,000 shares. Based on an average daily volume of 1,800,000 shares, the short-interest ratio is currently 2.7 days. Approximately 3.3% of the company's shares are short sold.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. 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. Stephens cut their target price on Zions Bancorporation, National Association from $54.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a "market perform" rating for the company in a research report on Tuesday. Morgan Stanley cut their target price on Zions Bancorporation, National Association from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, DA Davidson increased their price objective on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Zions Bancorporation, National Association currently has an average rating of "Hold" and an average target price of $59.00.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION traded down $0.19 during midday trading on Thursday, reaching $44.13. The company's stock had a trading volume of 122,108 shares, compared to its average volume of 1,571,216. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The company has a 50 day moving average price of $48.47 and a 200 day moving average price of $53.30. Zions Bancorporation, National Association has a one year low of $39.32 and a one year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same quarter in the prior year, the business earned $0.96 EPS. On average, equities research analysts expect that Zions Bancorporation, National Association will post 5.39 EPS for the current year.

Zions Bancorporation, National Association announced that its board has approved a stock buyback plan on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.90%. Zions Bancorporation, National Association's payout ratio is 34.75%.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 22,673 shares of the business's stock in a transaction on 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 sale, the executive vice president now owns 29,313 shares in the company, valued at approximately $1,655,305.11. The trade was a 43.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven Dan Stephens sold 10,000 shares of the firm'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 transaction, the executive vice president now owns 45,847 shares of the company's stock, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,029 shares of company stock valued at $1,855,321. Company insiders own 2.22% of the company's stock.

Hedge Funds Weigh In On Zions Bancorporation, National Association

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after buying an additional 183 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Zions Bancorporation, National Association by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after purchasing an additional 224 shares during the period. Contravisory Investment Management Inc. lifted its holdings in Zions Bancorporation, National Association by 1.5% during the 4th quarter. Contravisory Investment Management Inc. now owns 17,263 shares of the bank's stock valued at $937,000 after purchasing an additional 249 shares during the last quarter. Jackson Creek Investment Advisors LLC lifted its position in Zions Bancorporation, National Association by 3.3% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock worth $490,000 after acquiring an additional 285 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Zions Bancorporation, National Association by 4.7% in the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank's stock valued at $364,000 after acquiring an additional 303 shares in the last quarter. 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.