Allianz Asset Management GmbH Acquires 195,706 Shares of Zions Bancorporation, N.A. $ZION

Allianz Asset Management GmbH grew its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,257,880 shares of the bank’s stock after purchasing an additional 195,706 shares during the period. Allianz Asset Management GmbH’s holdings in Zions Bancorporation, N.A. were worth $73,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. M&T Bank Corp bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth $8,591,000. Jupiter Asset Management Ltd. bought a new stake in shares of Zions Bancorporation, N.A. in the third quarter worth $934,000. Burney Co. bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth $4,762,000. Caprock Group LLC bought a new stake in shares of Zions Bancorporation, N.A. in the third quarter worth $1,825,000. Finally, Arbejdsmarkedets Tillaegspension bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth $24,271,000. Institutional investors own 76.84% of the company’s stock.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $65.82 on Thursday. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 2.15 and a beta of 0.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $61.63 and a 200-day moving average price of $59.50. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $66.61.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter in the prior year, the company posted $1.13 earnings per share. As a group, equities research analysts predict that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share repurchase plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s payout ratio is currently 27.99%.

Analysts Set New Price Targets

Several analysts recently commented on ZION shares. Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Royal Bank Of Canada boosted their price target on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st. Truist Financial boosted their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. TD Cowen boosted their price target on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley cut their price target on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $65.53.

Zions Bancorporation, N.A. Company 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.