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Robert Ryan Richards, the Controller at Zions Bancorporation (NASDAQ:ZION), a $7.45 billion regional bank with a solid dividend track record spanning 55 consecutive years, sold 316 shares of the company’s common stock on April 1. The shares were sold at a price of $49.48 each, amounting to a total transaction value of $15,635. Following the sale, Richards holds 30,354 shares directly. The stock currently trades at $50.44, offering a 3.48% dividend yield, with InvestingPro analysis showing a GOOD financial health score. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. For deeper insights into insider trading patterns and comprehensive analysis, access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Zions Bancorporation announced a new share repurchase program, authorizing up to $40 million in buybacks for the 2025 fiscal year. The company reported total assets of approximately $89 billion and an annual net revenue of $3.1 billion as of December 31, 2024. Additionally, Zions declared dividends on its common and preferred stock, with a $0.43 per common share dividend scheduled for February 20, 2025. RBC Capital Markets raised its price target for Zions Bancorp from $61 to $63, noting solid core trends and a stronger margin in the bank’s recent earnings report. DA Davidson also increased its price target to $69, maintaining a Buy rating due to robust revenue growth and a positive outlook. Keefe, Bruyette & Woods adjusted their price target from $65 to $70, highlighting Zions Bancorp’s solid pre-provision net revenue results and stronger net interest income. Despite increased credit costs, analysts from these firms have shown confidence in the bank’s future earnings potential. These developments reflect Zions Bancorporation’s ongoing efforts to manage capital effectively and enhance shareholder value.
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