1,058 Shares in Zions Bancorporation, N.A. (NASDAQ:ZION) Bought by CX Institutional

CX Institutional acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,058 shares of the bank’s stock, valued at approximately $53,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Curat Global LLC bought a new position in Zions Bancorporation, N.A. during the first quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 51.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock worth $29,000 after buying an additional 183 shares during the period. Covestor Ltd grew its stake in Zions Bancorporation, N.A. by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Zions Bancorporation, N.A. by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in Zions Bancorporation, N.A. during the first quarter worth approximately $50,000. Institutional investors own 76.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley decreased their target price on Zions Bancorporation, N.A. from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Robert W. Baird lowered their price objective on Zions Bancorporation, N.A. from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada reduced their target price on shares of Zions Bancorporation, N.A. from $63.00 to $53.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of Zions Bancorporation, N.A. from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Argus upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. presently has an average rating of “Hold” and an average target price of $57.94.

Zions Bancorporation, N.A. Stock Down 1.2%

Shares of ZION opened at $47.28 on Wednesday. The firm has a 50 day simple moving average of $46.57 and a two-hundred day simple moving average of $51.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.83 and a quick ratio of 0.83. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $63.22. The company has a market cap of $6.98 billion, a P/E ratio of 9.23, a P/E/G ratio of 1.56 and a beta of 0.88.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same period in the prior year, the company earned $0.96 EPS. Research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $0.43 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.64%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 33.59%.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, N.A. Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.