Vise Technologies Inc. Buys Shares of 12,127 Zions Bancorporation, N.A. $ZION

Vise Technologies Inc. purchased a new position in Zions Bancorporation, N.A. (NASDAQ:ZIONFree Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,127 shares of the bank’s stock, valued at approximately $839,000.

Other hedge funds have also recently made changes to their positions in the company. Basswood Capital Management L.L.C. raised its stake in shares of Zions Bancorporation, N.A. by 266.4% during the 4th quarter. Basswood Capital Management L.L.C. now owns 404,520 shares of the bank’s stock worth $23,681,000 after acquiring an additional 294,121 shares in the last quarter. LSV Asset Management lifted its position in Zions Bancorporation, N.A. by 1.3% during the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after acquiring an additional 48,346 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at approximately $3,353,000. Arbejdsmarkedets Tillaegspension acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at approximately $24,271,000. Finally, Norges Bank acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at approximately $105,700,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ZION shares. Cantor Fitzgerald upped their price target on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. TD Cowen raised their price objective on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Robert W. Baird boosted their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. DA Davidson upped their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target for the company. in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.29.

Check Out Our Latest Research Report on Zions Bancorporation, N.A.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the sale, the executive vice president owned 17,449 shares of the company’s stock, valued at $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Scott J. Mclean sold 33,285 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares in the company, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,787 shares of company stock valued at $6,283,858 in the last ninety days. Company insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $68.14 on Monday. The firm’s fifty day simple moving average is $69.71 and its two-hundred day simple moving average is $63.68. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 1.62 and a beta of 0.81. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZIONGet Free Report) last posted its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.17. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The company’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. Equities analysts anticipate that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.92 annualized dividend and a yield of 2.8%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s dividend payout ratio is presently 24.46%.

Zions Bancorporation, N.A. declared that its board has initiated a stock buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Zions Bancorporation, N.A. Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Zions Bancorporation, N.A. (NASDAQ:ZION)

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