Zions Bancorp NA Chairman & CEO Harris Simmons Acquires 4,000 Shares
Zions Bancorp NA (NASDAQ:ZION), a financial services company offering a range of banking and related services primarily in Utah, Idaho, California, and other U.S. states, has reported an insider purchase that signals confidence in the company's stock. According to a recent SEC filing, Chairman & CEO Harris Simmons acquired 4,000 shares of Zions Bancorp NA on February 27, 2024.Harris Simmonss recent transaction adds to a series of insider trades over the past year, where the insider has purchased a total of 27,600 shares and has not sold any shares.The insider transaction history for Zions Bancorp NA shows a mix of insider buying and selling activities. Over the past year, there have been 7 insider buys and 13 insider sells.On the day of the transaction, shares of Zions Bancorp NA were trading at $38.54, resulting in a market cap of $5,641.754 billion. The company's price-earnings ratio stands at 8.75, which is below both the industry median of 9.29 and the company's historical median price-earnings ratio.The stock's valuation relative to the GuruFocus Value (GF Value) suggests that Zions Bancorp NA is currently undervalued. With a share price of $38.54 and a GF Value of $60.48, the price-to-GF-Value ratio is 0.64, indicating that the stock is significantly undervalued.The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
The insider's recent purchase could be interpreted as a sign of optimism about the company's future prospects. Investors often look at insider transactions as an indicator of the company's health and future performance.
It is important for investors to consider insider transactions as part of a broader investment strategy and to conduct their own due diligence before making investment decisions.
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.
