Jupiter Asset Management Ltd. Buys Shares of 16,502 Zions Bancorporation, N.A. $ZION

Jupiter Asset Management Ltd. purchased a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 16,502 shares of the bank’s stock, valued at approximately $934,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at $80,883,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Zions Bancorporation, N.A. during the second quarter worth $32,008,000. Balyasny Asset Management L.P. purchased a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at $31,224,000. Vanguard Group Inc. grew its holdings in shares of Zions Bancorporation, N.A. by 3.1% in the second quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock worth $1,002,875,000 after purchasing an additional 582,392 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Zions Bancorporation, N.A. by 14.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock worth $183,546,000 after purchasing an additional 409,065 shares during the last quarter. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION opened at $62.50 on Monday. The firm has a 50 day moving average of $60.46 and a 200 day moving average of $56.61. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 10.42 and a beta of 0.85. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18.

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 12th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is 30.00%.

Insider Activity

In related news, EVP Derek Steward sold 769 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $60.46, for a total transaction of $46,493.74. Following the sale, the executive vice president owned 14,307 shares of the company’s stock, valued at $865,001.22. This trade represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven Dan Stephens sold 15,476 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $65.90, for a total transaction of $1,019,868.40. Following the completion of the transaction, the executive vice president owned 41,127 shares of the company’s stock, valued at $2,710,269.30. This represents a 27.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,391 shares of company stock worth $3,487,037 over the last ninety days. 1.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZION has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. raised their target price on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. UBS Group lowered their price target on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Jefferies Financial Group raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research note on Wednesday, November 19th. Finally, Royal Bank Of Canada raised their price objective on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.32.

About Zions Bancorporation, N.A.

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.