Qsemble Capital Management LP bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 57,273 shares of the bank’s stock, valued at approximately $3,353,000.
A number of other institutional investors and hedge funds have also made changes to their positions in ZION. Royal Bank of Canada raised its position in shares of Zions Bancorporation, N.A. by 76.3% during the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after buying an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Zions Bancorporation, N.A. by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after purchasing an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Zions Bancorporation, N.A. by 0.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock valued at $25,172,000 after purchasing an additional 2,659 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Zions Bancorporation, N.A. by 91.7% in the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 10,283 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after purchasing an additional 625 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ZION has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Royal Bank Of Canada increased their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 21st. Finally, Piper Sandler decreased their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of “Hold” and a consensus price target of $65.53.
Zions Bancorporation, N.A. Trading Down 0.8%
NASDAQ ZION opened at $59.63 on Friday. The stock has a market cap of $8.77 billion, a PE ratio of 9.27, a PEG ratio of 1.97 and a beta of 0.83. Zions Bancorporation, N.A. has a 12 month low of $45.52 and a 12 month high of $66.18. The company’s 50-day moving average price is $59.05 and its 200-day moving average price is $58.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27.
Zions Bancorporation, N.A. (NASDAQ:ZION – Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same quarter last year, the business posted $1.13 EPS. Equities research analysts forecast that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current year.
Zions Bancorporation, N.A. Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 3.0%. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.
Zions Bancorporation, N.A. declared that its Board of Directors has initiated a share buyback plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Insider Buying and Selling at Zions Bancorporation, N.A.
In other news, CEO Harris H. Simmons purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average price of $59.03 per share, with a total value of $265,635.00. Following the transaction, the chief executive officer owned 1,317,493 shares of the company’s stock, valued at $77,771,611.79. This represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,038 shares of company stock worth $439,948 over the last 90 days. 1.43% of the stock is currently owned by company insiders.
Zions Bancorporation, N.A. Profile
Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.
The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.
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