Private Advisory Group LLC acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 136,742 shares of the bank’s stock, valued at approximately $9,461,000.
Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter worth $105,700,000. Balyasny Asset Management L.P. raised its holdings in shares of Zions Bancorporation, N.A. by 1,270.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock valued at $67,145,000 after purchasing an additional 1,063,303 shares during the period. AQR Capital Management LLC boosted its position in shares of Zions Bancorporation, N.A. by 31.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $32,008,000. Finally, FIL Ltd grew its stake in shares of Zions Bancorporation, N.A. by 117.6% in the 4th quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock valued at $65,160,000 after buying an additional 601,610 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.
Zions Bancorporation, N.A. Trading Up 0.8%
NASDAQ:ZION opened at $72.20 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a 50-day moving average of $69.32 and a 200-day moving average of $63.31. The company has a market cap of $10.54 billion, a PE ratio of 9.20, a PEG ratio of 1.72 and a beta of 0.81. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34.
Zions Bancorporation, N.A. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.48 per share. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 24.46%.
Insider Buying and Selling at Zions Bancorporation, N.A.
In other Zions Bancorporation, N.A. news, EVP Scott A. Law sold 4,608 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the sale, the executive vice president directly owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Scott J. Mclean sold 33,285 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 88,787 shares of company stock worth $6,283,858. Insiders own 1.43% of the company’s stock.
Wall Street Analyst Weigh In
ZION has been the subject of a number of research analyst reports. Wall Street Zen raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Wells Fargo & Company increased their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective for the company. in a research note on Thursday, July 23rd. Finally, Morgan Stanley boosted their price objective on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.29.
View Our Latest Research Report on ZION
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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