On April 25, 2023 at 13:10:37 ET an unusually large $578.15K block of Put contracts in Zions Bancorporation N.A (ZION) was bought, with a strike price of $20.00 / share, expiring in 269 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.41 sigmas above the mean, placing it in the 91.76th percentile of all recent large trades made in ZION options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 1107 funds or institutions reporting positions in Zions Bancorporation N.A. This is a decrease of 3 owner(s) or 0.27% in the last quarter. Average portfolio weight of all funds dedicated to ZION is 0.26%, an increase of 25.15%. Total shares owned by institutions increased in the last three months by 1.10% to 157,273K shares. The put/call ratio of ZION is 1.06, indicating a bearish outlook.
Analyst Price Forecast Suggests 37.53% Upside
As of April 24, 2023, the average one-year price target for Zions Bancorporation N.A is $38.88. The forecasts range from a low of $31.31 to a high of $57.75. The average price target represents an increase of 37.53% from its latest reported closing price of $28.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Zions Bancorporation N.A is $3,632MM, an increase of 16.97%. The projected annual non-GAAP EPS is $6.89.
What are Other Shareholders Doing?
Franklin Resources holds 86K shares representing 0.06% ownership of the company. In it’s prior filing, the firm reported owning 86K shares, representing a decrease of 0.15%. The firm decreased its portfolio allocation in ZION by 79.66% over the last quarter.
RYKIX – Banking Fund Investor Class holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 33.16%. The firm increased its portfolio allocation in ZION by 3.94% over the last quarter.
Gateway Investment Advisers holds 34K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 34K shares, representing an increase of 0.09%. The firm decreased its portfolio allocation in ZION by 39.65% over the last quarter.
ALLIANZ VARIABLE INSURANCE PRODUCTS TRUST – AZL Russell 1000 Value Index Fund Class 2 holds 8K shares representing 0.01% ownership of the company. No change in the last quarter.
Alberta Investment Management holds 62K shares representing 0.04% ownership of the company. In it’s prior filing, the firm reported owning 65K shares, representing a decrease of 4.29%. The firm increased its portfolio allocation in ZION by 6.69% over the last quarter.
Zions Bancorporation N.A Declares $0.41 Dividend
On January 27, 2023 the company declared a regular quarterly dividend of $0.41 per share ($1.64 annualized). Shareholders of record as of February 16, 2023 received the payment on February 23, 2023. Previously, the company paid $0.41 per share.
At the current share price of $28.27 / share, the stock’s dividend yield is 5.80%. Looking back five years and taking a sample every week, the average dividend yield has been 2.98%, the lowest has been 1.66%, and the highest has been 5.80%. The standard deviation of yields is 0.84 (n=237).
The current dividend yield is 3.35 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.27. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.
Zions Bancorporation N.A Background Information
(This description is provided by the company.)
Zions Bancorporation, N.A. is one of the nation’s premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $80 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending, recently ranking as the 9th largest provider in the U.S. of the SBA’s Paycheck Protection Program loans. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices.
See all Zions Bancorporation N.A regulatory filings.
This article originally appeared on Fintel
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