Zions Bancorporation, N.A. Target of Unusually Large Options Trading (NASDAQ:ZION)

Zions Bancorporation, N.A. (NASDAQ:ZION) was the target of some unusual options trading activity on Tuesday. Traders acquired 6,404 put options on the stock. This is an increase of approximately 454% compared to the typical volume of 1,156 put options.

Analyst Ratings Changes

Several research analysts recently weighed in on ZION shares. Citigroup increased their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. TD Cowen lifted their target price on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target for the company. in a report on Tuesday. Wells Fargo & Company raised their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus target price of $71.29.

Zions Bancorporation, N.A. News Summary

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Zions delivered better-than-expected Q2 results, with earnings and revenue both coming in above estimates, and management/call commentary pointed to resilient growth and solid core loan performance. Earnings Call Presentation
• Positive Sentiment: Several analysts raised price targets after the earnings release, including DA Davidson, RBC, Wells Fargo, and TD Cowen, signaling improved expectations for the stock. Analyst Rating Update
• Positive Sentiment: Independent write-ups highlighted Zions as a long-term value and momentum name, suggesting some investors still see an attractive valuation and fundamental setup. Zacks Value Stock Article
• Neutral Sentiment: Morningstar coverage of Zions Bancorp NA ZB1 did not add a clear new catalyst, so it appears more informational than market-moving. Morningstar Quote
• Negative Sentiment: The stock sold off after earnings because part of the profit increase came from non-core gains, including a Visa-related gain, while net interest margin was flat and deposits were seasonally lower than the prior quarter. Why Zions Stock Is Down Today
• Negative Sentiment: Heavy put-option activity and a JPMorgan downgrade to underweight suggest some traders are positioning defensively after the earnings release. Options and Analyst Reaction

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is owned by corporate insiders.

Institutional Trading of Zions Bancorporation, N.A.

Institutional investors and hedge funds have recently bought and sold shares of the business. Elevation Wealth Partners LLC increased its stake in Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares during the period. Torren Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $32,000. Leonteq Securities AG acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $36,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $42,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Up 1.5%

NASDAQ:ZION opened at $70.07 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $66.34 and its two-hundred day moving average is $62.07. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The business had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $853.73 million. During the same period in the previous year, the firm posted $1.13 earnings per share. Research analysts anticipate that Zions Bancorporation, N.A. will post 6.5 EPS for the current year.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a share repurchase plan on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio is presently 22.93%.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.