Assenagon Asset Management S.A. Invests $9.95 Million in Zions Bancorporation, N.A. $ZION

Assenagon Asset Management S.A. bought a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 169,982 shares of the bank’s stock, valued at approximately $9,951,000.

A number of other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC lifted its stake in shares of Zions Bancorporation, N.A. by 2.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 7,500 shares of the bank’s stock worth $424,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC increased its stake in shares of Zions Bancorporation, N.A. by 2.2% during the 3rd quarter. GAMMA Investing LLC now owns 10,567 shares of the bank’s stock valued at $598,000 after acquiring an additional 232 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Zions Bancorporation, N.A. by 1.2% during the third quarter. Crossmark Global Holdings Inc. now owns 21,548 shares of the bank’s stock worth $1,219,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Zions Bancorporation, N.A. by 1.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,940 shares of the bank’s stock worth $902,000 after buying an additional 276 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Zions Bancorporation, N.A. by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 48,719 shares of the bank’s stock worth $2,757,000 after acquiring an additional 280 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Brean Capital assumed coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Morgan Stanley upgraded Zions Bancorporation, N.A. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $75.00 in a research report on Monday, March 2nd. TD Cowen increased their price objective on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. Finally, Robert W. Baird upgraded Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.58.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $55.40 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50 day moving average is $58.89 and its 200-day moving average is $56.80. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $66.18. The stock has a market capitalization of $8.15 billion, a P/E ratio of 9.23 and a beta of 0.83.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.80 annualized dividend and a dividend yield of 3.2%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 30.00%.

Insider Activity at Zions Bancorporation, N.A.

In other news, VP Eric Ellingsen sold 1,519 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $61.27, for a total transaction of $93,069.13. Following the completion of the sale, the vice president directly owned 40,361 shares of the company’s stock, valued at $2,472,918.47. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Harris H. Simmons bought 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the acquisition, the chief executive officer directly owned 1,317,493 shares in the company, valued at approximately $77,771,611.79. The trade was a 0.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 55,581 shares of company stock worth $3,498,774. 2.22% of the stock is owned by corporate 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.