Zions Bancorporation Insider Sales and Analyst Ratings Update

Insider trading activity at Zions Bancorporation, National Association has recently attracted attention, particularly regarding insider transactions.

Insider Transactions

An executive vice president recently sold shares at an average price of $53.46, resulting in a total transaction value of $234,422.10. Following this sale, the executive now holds 24,714 shares, which are valued at approximately $1,321,210.44. This transaction represents a significant 15.07% decrease in their ownership stake, raising questions about the motivations behind such a move.

Over the past three months, insiders have sold a total of 18,881 shares of Zions Bancorporation stock, amounting to $1,108,184. Currently, insiders collectively own 2.22% of the company's stock, indicating a trend of selling among those with intimate knowledge of the company's operations.

Institutional Investors and Hedge Funds

Institutional investors and hedge funds have also been active in adjusting their stakes in Zions Bancorporation.

  • ORG Wealth Partners LLC acquired a new stake during the third quarter, valued at approximately $28,000.
  • International Assets Investment Management LLC and Rothschild Investment LLC purchased new stakes in the second quarter, worth about $34,000 and $39,000, respectively.
  • New Millennium Group LLC also joined the fray with a stake valued at approximately $55,000.

Allspring Global Investments Holdings LLC has significantly increased its position in Zions Bancorporation by 68.9%, now owning 1,289 shares valued at $56,000 after acquiring an additional 526 shares in the last quarter. This surge in institutional ownership, which now stands at 76.84%, suggests a growing confidence among larger investors in the bank's potential.

Analysts' Coverage and Ratings

Analysts have recently initiated coverage on Zions Bancorporation, with UBS Group assigning a "neutral" rating. Other firms have also weighed in, with Goldman Sachs raising its price target from $59.00 to $67.00 while maintaining a "neutral" rating. Wedbush and Morgan Stanley have similarly adjusted their price objectives, reflecting a cautious optimism about the bank's performance. The consensus among analysts currently leans towards a "Hold" rating, with an average target price of $55.88.

Stock Performance and Earnings

The stock has experienced fluctuations, trading down $1.18 to $56.46 recently, with a market capitalization of $8.34 billion. Zions Bancorporation's stock has seen a 52-week low of $37.76 and a high of $63.22.

Zions Bancorporation recently released its quarterly earnings results, reporting an EPS of $1.37, surpassing the consensus estimate of $1.16 by $0.21. This performance reflects a return on equity of 13.89% and a net margin of 14.09%. The firm generated revenue of $1.28 billion during the quarter, significantly exceeding analyst expectations of $781.63 million. Looking ahead, analysts project that Zions Bancorporation will post earnings of $4.85 per share for the current fiscal year. However, challenges remain, particularly as interest rates continue to rise.

Insider Transactions

Insider transactions have also occurred, with VP Eric Ellingsen selling 1,238 shares at an average price of $60.84, totaling $75,319.92. Following this transaction, Ellingsen retains 35,878 shares valued at approximately $2,182,817.52, reflecting a 3.34% decrease in his ownership. EVP Jennifer Anne Smith also sold shares of Zions Bancorporation stock in a transaction that took place on October 30th. These insider sales can influence market perceptions and investor sentiment.

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