Zions Bancorporation Target of Unusually Large Options Trading (ZION)

Zions Bancorporation (NASDAQ:ZION) saw unusually large options trading activity on Wednesday. Traders acquired 5,595 call options on the stock. This represents an increase of 1,216% compared to the average volume of 425 call options.

In other Zions Bancorporation news, insider Bruce K. Alexander sold 6,089 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $47.97, for a total value of $292,089.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Keith D. Maio sold 13,019 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,979 shares of company stock worth $2,057,927. Company insiders own 1.46% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Shelton Capital Management bought a new position in Zions Bancorporation in the third quarter valued at $3,337,000. Cetera Advisor Networks LLC grew its position in Zions Bancorporation by 9.4% in the third quarter. Cetera Advisor Networks LLC now owns 16,597 shares of the bank’s stock valued at $784,000 after purchasing an additional 1,423 shares in the last quarter. California Public Employees Retirement System grew its position in Zions Bancorporation by 1.1% in the third quarter. California Public Employees Retirement System now owns 582,012 shares of the bank’s stock valued at $27,459,000 after purchasing an additional 6,412 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Zions Bancorporation in the third quarter valued at $212,000. Finally, Cubist Systematic Strategies LLC bought a new position in Zions Bancorporation in the third quarter valued at $513,000. 92.69% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on ZION shares. Robert W. Baird lowered shares of Zions Bancorporation from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $46.12 to $43.00 in a report on Monday, August 7th. Wells Fargo & Company started coverage on shares of Zions Bancorporation in a report on Wednesday, August 9th. They set an “outperform” rating and a $56.00 price objective on the stock. Bank of America upgraded shares of Zions Bancorporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $52.00 in a report on Wednesday, August 16th. Sanford C. Bernstein restated a “market perform” rating and set a $51.00 price objective on shares of Zions Bancorporation in a report on Saturday, September 16th. Finally, Jefferies Group restated a “buy” rating and set a $49.00 price objective on shares of Zions Bancorporation in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.84.

Zions Bancorporation (NASDAQ ZION) opened at $50.08 on Friday. The firm has a market cap of $10,000.00, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.86 and a beta of 1.48. Zions Bancorporation has a 12-month low of $38.43 and a 12-month high of $50.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation (NASDAQ:ZION) last released its earnings results on Monday, October 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $666.83 million. Zions Bancorporation had a net margin of 22.70% and a return on equity of 8.54%. During the same period last year, the business posted $0.57 EPS. equities analysts forecast that Zions Bancorporation will post 2.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 15th were given a $0.16 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.28%. This is an increase from Zions Bancorporation’s previous quarterly dividend of $0.12. Zions Bancorporation’s dividend payout ratio (DPR) is 23.97%.

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About Zions Bancorporation

Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.

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