SALT LAKE CITY, UT – Zions Bancorporation (NASDAQ:ZION), National Association /UT/ (NASDAQ:ZION) has reported in a recent SEC filing that Executive Vice President Terry Alan Shirey has sold company stock. The transaction involved the sale of 1,917 shares of common stock at a price of $51.78 per share, totaling approximately $99,262.
The sale was disclosed in a Form 4 filing with the Securities and Exchange Commission, which details the trading activities of the company's insiders. According to the filing, the shares were sold on July 26, 2024, and the transaction was reported on July 29, 2024.
Following the transaction, Shirey still holds a significant number of shares in the company, with 24,640 shares remaining in his possession. This indicates a continued vested interest in the company's performance and future.
Investors often monitor insider sales as they can provide insights into an insider’s view of the company’s value. The sale of a portion of Shirey's holdings may be part of personal financial management, diversification, or other reasons not necessarily related to the company’s performance.
Zions Bancorporation, National Association /UT/ is a financial services company that provides various banking and related services in the United States. The company, headquartered in Salt Lake City, Utah, has been serving customers and communities for over a century.
Investors and market analysts will likely keep an eye on further insider transactions at Zions Bancorporation, as they can offer valuable information about the company's internal perspective and financial health.
In other recent news, Zions Bancorporation reported stable financial results for the second quarter of 2024, with net earnings of $190 million and diluted earnings per share of $1.28. This comes in conjunction with the completion of a significant system overhaul aimed at enhancing operational efficiency and fraud detection. Argus Research, however, adjusted its stance on Zions Bancorp from Buy to Hold due to valuation concerns. Analysts at Argus have slightly adjusted their earnings estimates, with a marginal increase for 2024 to $4.44 from $4.39, and a decrease for 2025 to $4.62 from $4.66.
Recent developments also include a minor decrease in customer deposit balances and plans for a reduction in Zions' investment portfolio, shifting towards higher-yielding loans. Despite a slight uptick in adjusted expenses, the company saw an expansion in net interest margin and an increase in loan demand. Zions Bancorporation's common equity Tier-1 (CET1) ratio remains strong at 10.6%, and it reported a tangible book value increase of 20.1% year-over-year. Looking ahead, the company anticipates a slight to moderate increase in financial performance in Q2 2025 compared to Q2 2024. The company is also actively managing its interest rate sensitivity and projects a slight to moderate increase in net interest income for Q2 2025.
InvestingPro Insights
As investors digest the news of Executive Vice President Terry Alan Shirey's recent stock sale, it's important to consider the broader financial performance and market position of Zions Bancorporation (NASDAQ:ZION). According to the latest data from InvestingPro, Zions Bancorporation maintains a solid market capitalization of $7.64 billion USD. The company's P/E ratio stands at 12.49, reflecting a valuation that aligns with its earnings. Moreover, Zions has exhibited a strong return on assets over the last twelve months as of Q2 2024, at 0.75%, indicating efficient management of its assets to generate profits.
InvestingPro Tips highlight that Zions Bancorporation has raised its dividend for 11 consecutive years, showcasing a commitment to returning value to shareholders. Additionally, there's a sense of optimism among analysts, as evidenced by 9 analysts revising their earnings upwards for the upcoming period. This could signal confidence in the company's future performance.
For those looking to delve deeper into the financials and forecasts for Zions Bancorporation, InvestingPro offers additional insights. There are 6 more InvestingPro Tips available that could provide further clarity on the company's financial health and projections. Interested readers can access these tips by visiting the dedicated InvestingPro page for Zions Bancorporation: https://www.investing.com/pro/ZION. Moreover, users can benefit from a special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
While insider transactions like those of Mr. Shirey can offer a glimpse into individual perspectives, the aggregate data and expert analyses provided by InvestingPro present a comprehensive view of Zions Bancorporation's market stance, helping investors make informed decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.