A Zions Bancorp director last week made her first purchase of the company’s stock since joining the board, as shares sold off amid pressure on regional-banking names, according to a MarketWatch review of filing data.
Claire Huang, a Zions ZION director, bought 18,000 shares Thursday for an average price of $20.021, paying $360,000 in the transaction, according to a filing with the Securities and Exchange Commission released Monday. She also reported the purchase of an additional 6,000 shares at an average price of $19.984 that was conducted Thursday by her spouse, a transaction with a value of just under $120,000.
Past filings indicated that she was awarded shares as deferred compensation for her board role at various points each year. As of March 2, 2023, Huang owned 11,449 common shares, according to Zion’s proxy statement filed March 23, 2023. Huang’s purchase of Zions shares came as regional-banking names fell under continued pressure last week following JPMorgan Chase & Co.’s JPM takeover of First Republic Bank. That deal fueled concerns about instability in the regional-bank landscape.