Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Zions Bancorporation National Association shares valued at $19,796 were sold by Ellingsen Eric on Feb 10. At $52.51 per share, Ellingsen Eric sold 377 shares. The insider’s holdings dropped to 24,135 shares worth approximately $1.17 million following the completion of this transaction.
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Also, STEPHENS STEVEN DAN sold 6,000 shares, netting a total of over 326,510 in proceeds. Following the sale of shares at $54.42 each, the insider now holds 38,509 shares.
Before that, Law Scott A. had sold 3,217 shares from its account. In a trade valued at $174,008, the Executive Vice President traded Zions Bancorporation National Association shares for $54.09 each. Upon closing the transaction, the insider’s holdings decreased to 3,217 shares, worth approximately $0.93 million.
As published in a research note from JP Morgan on January 25, 2023, Zions Bancorporation National Association [ZION] has been rated down from a Neutral to an Underweight and the price target has been revised to $46 from $49. This represents a -5.02% premium over Thursday’s closing price. Analysts at Barclays downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early January. As of December 21, 2022, DA Davidson has increased its “Neutral” rating to a “Buy” for ZION. Earlier on December 05, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for ZION stock.
Analyzing ZION Stock Performance
On Thursday, Zions Bancorporation National Association [NASDAQ: ZION] plunged -4.22% to $48.31. The stock’s lowest price that day was $47.92, but it reached a high of $49.97 in the same session. During the last five days, there has been a drop of approximately -2.13%. Over the course of the year, Zions Bancorporation National Association shares have dropped approximately -1.73%. Shares of the company reached a 52-week high of $55.19 on 02/03/23 and a 52-week low of $47.56 on 01/19/23. A 50-day SMA is recorded $50.86, while a 200-day SMA reached $52.44. Nevertheless, trading volume fell to 1.53 million shares from 1.13 million shares the previous day.
Support And Resistance Levels for Zions Bancorporation National Association (ZION)
According to the 24-hour chart, there is a support level at 47.50, which, if violated, would cause prices to drop to 46.68. In the upper region, resistance lies at 49.55. The next price resistance is at 50.78. RSI (Relative Strength Index) is 34.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.04, which suggests the price will decrease in the coming days. Percent R is at 92.54%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Zions Bancorporation National Association subject to short interest?
Stocks of Zions Bancorporation National Association saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.36 million shares to 3.14 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 3.5 million shares. A decline of -11.46% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.71 of the overall float, the days-to-cover ratio (short ratio) decline to 2.71.
Which companies own the most shares of Zions Bancorporation National Association (ZION)?
According to The Vanguard Group, Inc. filings, the company currently owns 20,418,427 shares, which is about 13.65% of the total ZION shares outstanding. The investor’s shares have appreciated by 1,122,317 from its previous 13-F filing of 19296110.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $409,693,116. Victory Capital Management, Inc. reduced a -0.24% interest valued at $408.6 million while SSgA Funds Management, Inc. sold a -106,274 stake. A total of 656,756 shares of Zions Bancorporation National Association were sold by LSV Asset Management during the quarter, and -6,329 were sold by Dimensional Fund Advisors LP. In its current portfolio, Massachusetts Financial Services holds 3,867,754 shares valued at $205.61 million.