Chairman & CEO Harris Simmons Acquires 3,600 Shares of Zions Bancorp NA
Zions Bancorp NA (NASDAQ:ZION), a financial services company headquartered in Salt Lake City, Utah, has seen a recent insider purchase by its Chairman and CEO, Harris Simmons. According to a SEC Filing dated 2024-02-06, the insider acquired 3,600 shares of the company's stock.
Zions Bancorp NA operates as a bank holding company for Zions First National Bank, which provides various banking products and services primarily in Utah, California, and Texas. The company offers a range of commercial and retail banking and mortgage lending products and services.
Insider transactions are purchases and sales of stock made by company insiders, which include executives, directors, and significant shareholders. These transactions are closely monitored by investors as they can provide insights into insiders' views on the company's future prospects.
Over the past year, Harris Simmons has purchased a total of 23,600 shares and has not sold any shares of the company's stock. This latest transaction is part of a pattern of insider buying activity at Zions Bancorp NA, which has seen 6 insider buys over the past year. In contrast, there have been 12 insider sells during the same period.
On the day of the insider's recent purchase, shares of Zions Bancorp NA were trading at $38.99, resulting in a market capitalization of $5,806.116 billion. The company's price-earnings ratio stands at 9.01, which is below both the industry median of 9.25 and the company's historical median price-earnings ratio.
The stock's valuation relative to the GuruFocus Value (GF Value) indicates that Zions Bancorp NA is significantly undervalued. With a share price of $38.99 and a GF Value of $63.08, the price-to-GF-Value ratio is 0.62. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider's recent purchase could be seen as a sign of confidence in the company's value and future performance, especially when considering the stock's current valuation metrics and its position relative to the GF Value.
Investors often look to insider buying trends as a signal of potential value in a stock, and the consistent buying pattern from Harris Simmons may warrant attention from those following Zions Bancorp NA.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
