Short Interest in Zions Bancorporation NA (NASDAQ:ZION) Declines By 20.2%

Zions Bancorporation NA (NASDAQ:ZION) saw a significant decline in short interest in March. As of March 13th, there was short interest totalling 21,303,500 shares, a decline of 20.2% from the February 27th total of 26,700,000 shares. Approximately 13.1% of the company’s stock are sold short. Based on an average trading volume of 5,679,200 shares, the short-interest ratio is currently 3.8 days.

In other news, EVP Steven Dan Stephens sold 8,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $45.16, for a total transaction of $361,280.00. Following the completion of the sale, the executive vice president now directly owns 73,465 shares of the company’s stock, valued at $3,317,679.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alan M. Forney sold 3,029 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $46.47, for a total transaction of $140,757.63. Following the sale, the vice president now directly owns 10,379 shares of the company’s stock, valued at $482,312.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,660 shares of company stock valued at $715,990. 1.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CX Institutional boosted its stake in Zions Bancorporation NA by 1.1% in the fourth quarter. CX Institutional now owns 25,596 shares of the bank’s stock valued at $1,329,000 after acquiring an additional 279 shares during the last quarter. Argent Capital Management LLC lifted its stake in shares of Zions Bancorporation NA by 1.6% during the 4th quarter. Argent Capital Management LLC now owns 20,385 shares of the bank’s stock valued at $1,058,000 after buying an additional 315 shares in the last quarter. Sippican Capital Advisors lifted its stake in shares of Zions Bancorporation NA by 4.5% during the 4th quarter. Sippican Capital Advisors now owns 9,300 shares of the bank’s stock valued at $483,000 after buying an additional 400 shares in the last quarter. NumerixS Investment Technologies Inc lifted its stake in shares of Zions Bancorporation NA by 16.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,900 shares of the bank’s stock valued at $151,000 after buying an additional 400 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Zions Bancorporation NA by 454.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 566 shares of the bank’s stock valued at $29,000 after buying an additional 464 shares in the last quarter. Hedge funds and other institutional investors own 99.06% of the company’s stock.

ZION opened at $27.37 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.56. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 0.81 and a beta of 1.50. Zions Bancorporation NA has a twelve month low of $23.58 and a twelve month high of $52.48. The company’s 50-day moving average price is $37.50 and its two-hundred day moving average price is $45.42.

Zions Bancorporation NA (NASDAQ:ZION) last released its earnings results on Tuesday, January 21st. The bank reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.11). The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $702.03 million. Zions Bancorporation NA had a net margin of 25.15% and a return on equity of 12.19%. During the same quarter in the previous year, the firm earned $1.08 earnings per share. As a group, sell-side analysts anticipate that Zions Bancorporation NA will post 4.05 earnings per share for the current year.

A number of brokerages have issued reports on ZION. Evercore ISI began coverage on shares of Zions Bancorporation NA in a research report on Friday, February 7th. They issued a “hold” rating and a $53.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Zions Bancorporation NA from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 17th. Wells Fargo & Co reduced their price objective on shares of Zions Bancorporation NA from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. SunTrust Banks upped their price objective on shares of Zions Bancorporation NA from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Zions Bancorporation NA in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.41.

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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