Short Interest in Zions Bancorporation NA (ZION) Increases By 7.9%

Zions Bancorporation NA (NASDAQ:ZION) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 23,378,206 shares, a growth of 7.9% from the January 15th total of 21,659,635 shares. Approximately 12.6% of the shares of the company are short sold. Based on an average daily volume of 3,449,038 shares, the days-to-cover ratio is presently 6.8 days.

A number of analysts have recently commented on ZION shares. Robert W. Baird upgraded Zions Bancorporation NA from an “underperform” rating to a “neutral” rating and set a $49.00 price objective for the company in a research report on Tuesday, October 23rd. BMO Capital Markets cut their price objective on Zions Bancorporation NA from $55.00 to $52.00 and set a “market perform” rating for the company in a research report on Tuesday, October 23rd. Raymond James cut their price objective on Zions Bancorporation NA from $62.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. BidaskClub upgraded Zions Bancorporation NA from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 16th. Finally, Argus started coverage on Zions Bancorporation NA in a research report on Monday, December 17th. They issued a “buy” rating and a $51.00 price objective for the company. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Zions Bancorporation NA currently has a consensus rating of “Buy” and a consensus target price of $56.79.

In other Zions Bancorporation NA news, insider Steven Dan Stephens sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $48.20, for a total value of $385,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Anne Smith sold 7,746 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $48.28, for a total value of $373,976.88. The disclosure for this sale can be found here. Insiders have sold 16,983 shares of company stock valued at $819,534 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Zions Bancorporation NA by 0.9% in the 4th quarter. BlackRock Inc. now owns 13,086,266 shares of the bank’s stock valued at $533,134,000 after purchasing an additional 115,951 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Zions Bancorporation NA by 10.9% in the 3rd quarter. Alliancebernstein L.P. now owns 5,038,547 shares of the bank’s stock valued at $252,683,000 after purchasing an additional 494,929 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Zions Bancorporation NA by 6.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,739,554 shares of the bank’s stock valued at $187,539,000 after purchasing an additional 224,892 shares during the last quarter. LSV Asset Management lifted its stake in shares of Zions Bancorporation NA by 10.2% in the 4th quarter. LSV Asset Management now owns 2,757,839 shares of the bank’s stock valued at $112,354,000 after purchasing an additional 255,066 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Zions Bancorporation NA by 7.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,543,276 shares of the bank’s stock valued at $127,546,000 after purchasing an additional 170,013 shares during the last quarter. 94.54% of the stock is currently owned by institutional investors.

NASDAQ ZION traded up $0.38 on Monday, reaching $49.42. 1,827,862 shares of the company were exchanged, compared to its average volume of 2,839,417. The firm has a market capitalization of $9.42 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Zions Bancorporation NA has a fifty-two week low of $38.08 and a fifty-two week high of $59.19.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings data on Tuesday, January 22nd. The bank reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.02. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $712.48 million. Zions Bancorporation NA had a return on equity of 12.57% and a net margin of 29.14%. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, sell-side analysts forecast that Zions Bancorporation NA will post 4.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 21st. Shareholders of record on Thursday, February 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, February 13th. Zions Bancorporation NA’s dividend payout ratio (DPR) is currently 29.41%.

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Zions Bancorporation NA Company Profile

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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