Stock Traders Buy Large Volume of Put Options on Zions Bancorporation NA (ZION)

Zions Bancorporation NA (NASDAQ:ZION) was the target of some unusual options trading activity on Thursday. Investors acquired 4,464 put options on the company. This represents an increase of 2,762% compared to the average volume of 156 put options.

A number of equities research analysts have recently weighed in on the stock. Wedbush raised their price objective on shares of Zions Bancorporation NA from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 23rd. ValuEngine upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Argus began coverage on shares of Zions Bancorporation NA in a research note on Monday, December 17th. They set a “buy” rating and a $51.00 price target on the stock. BidaskClub lowered shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, Zacks Investment Research reiterated a “hold” rating and set a $43.00 price target on shares of Zions Bancorporation NA in a research note on Monday, December 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Zions Bancorporation NA has an average rating of “Hold” and an average price target of $55.50.

Shares of Zions Bancorporation NA stock opened at $46.05 on Friday. Zions Bancorporation NA has a 1 year low of $38.08 and a 1 year high of $59.19. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.91. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51.

Zions Bancorporation NA (NASDAQ:ZION) last issued its quarterly earnings data on Tuesday, January 22nd. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.02. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $712.48 million. During the same period last year, the firm posted $0.80 EPS. On average, research analysts forecast that Zions Bancorporation NA will post 4.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 21st. Shareholders of record on Thursday, February 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.61%. The ex-dividend date was Wednesday, February 13th. Zions Bancorporation NA’s payout ratio is currently 29.41%.

In other news, insider Steven Dan Stephens sold 8,000 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $48.20, for a total value of $385,600.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Terry Alan Shirey sold 493 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $50.80, for a total transaction of $25,044.40. The disclosure for this sale can be found here. Insiders sold a total of 31,225 shares of company stock worth $1,537,180 over the last 90 days. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of ZION. ING Groep NV purchased a new position in Zions Bancorporation NA during the 3rd quarter worth $224,000. SG Americas Securities LLC grew its position in Zions Bancorporation NA by 19.8% during the 3rd quarter. SG Americas Securities LLC now owns 48,145 shares of the bank’s stock worth $2,414,000 after purchasing an additional 7,957 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Zions Bancorporation NA by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,442 shares of the bank’s stock worth $33,773,000 after purchasing an additional 24,017 shares during the last quarter. Prudential Financial Inc. grew its position in Zions Bancorporation NA by 59.0% during the 3rd quarter. Prudential Financial Inc. now owns 394,733 shares of the bank’s stock worth $19,796,000 after purchasing an additional 146,462 shares during the last quarter. Finally, Norinchukin Bank The grew its position in Zions Bancorporation NA by 12.0% during the 3rd quarter. Norinchukin Bank The now owns 13,754 shares of the bank’s stock worth $690,000 after purchasing an additional 1,477 shares during the last quarter. 90.58% of the stock is currently owned by institutional investors.

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About Zions Bancorporation NA

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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