The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Zions Bancorporation N.A shares valued at $154,160 were purchased by SIMMONS HARRIS H on Feb 27 ’24. At $38.54 per share, SIMMONS HARRIS H acquired 4,000 shares. The insider’s holdings grew to 1,312,987 shares worth approximately $54.17 million following the completion of this transaction.
Also, Young Mark Richard sold 5,597 shares, netting a total of over 225,055 in proceeds. Following the sale of shares at $40.21 each, the insider now holds 12,133 shares.
Before that, STEPHENS STEVEN DAN had sold 7,500 shares from its account. In a trade valued at $306,075, the Executive Vice President traded Zions Bancorporation N.A shares for $40.81 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $1.82 million.
As published in their initiating research note from Deutsche Bank on April 10, 2024, Zions Bancorporation N.A [ZION] has been a Hold and the price target has been revised to $47. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of December 15, 2023, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for ZION. Earlier on November 21, 2023, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for ZION stock which previously was a “a Buy”.
Analyzing ZION Stock Performance
During the last five days, there has been a drop of approximately -1.10%. Over the course of the year, Zions Bancorporation N.A shares have dropped approximately -5.95%. Shares of the company reached a 52-week high of $45.33 on 01/25/24 and a 52-week low of $37.76 on 02/01/24. A 50-day SMA is recorded $40.67, while a 200-day SMA reached $37.38. Nevertheless, trading volume fell to 1.43 million shares from 2.11 million shares the previous day.
Support And Resistance Levels for Zions Bancorporation N.A (ZION)
According to the 24-hour chart, there is a support level at 40.61, which, if violated, would cause prices to drop to 39.95. In the upper region, resistance lies at 41.67. The next price resistance is at 42.08. RSI (Relative Strength Index) is 48.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 72.48%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Zions Bancorporation N.A subject to short interest?
Stocks of Zions Bancorporation N.A saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.68 million shares to 11.72 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 10.04 million shares. A jump of 14.33% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.76 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.76.
