Zions Bancorporation, N.A. $ZION Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,896,825 shares of the bank’s stock after purchasing an additional 79,243 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Zions Bancorporation, N.A. were worth $111,040,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ZION. Signaturefd LLC increased its holdings in Zions Bancorporation, N.A. by 17.1% in the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock valued at $70,000 after buying an additional 174 shares in the last quarter. C M Bidwell & Associates Ltd. increased its stake in shares of Zions Bancorporation, N.A. by 13.5% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock valued at $91,000 after purchasing an additional 185 shares in the last quarter. Alta Capital Management LLC increased its stake in shares of Zions Bancorporation, N.A. by 0.7% in the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock valued at $1,630,000 after purchasing an additional 203 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Zions Bancorporation, N.A. by 3.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank’s stock valued at $462,000 after purchasing an additional 240 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Zions Bancorporation, N.A. by 1.2% in the 3rd 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 in the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. DA Davidson upped their price target on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. TD Cowen lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley cut their price objective on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and an average target price of $66.35.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $66.27 on Tuesday. The firm has a 50-day simple moving average of $62.15 and a 200-day simple moving average of $59.80. 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 stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 2.23 and a beta of 0.81. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $67.99.

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

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

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend 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%.

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.