Corient Private Wealth LLC Buys 14,601 Shares of Zions Bancorporation, N.A. $ZION

Corient Private Wealth LLC raised its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,819 shares of the bank’s stock after purchasing an additional 14,601 shares during the quarter. Corient Private Wealth LLC owned approximately 0.10% of Zions Bancorporation, N.A. worth $8,715,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at about $105,700,000. Balyasny Asset Management L.P. lifted its holdings in Zions Bancorporation, N.A. by 1,270.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock worth $67,145,000 after buying an additional 1,063,303 shares during the period. AQR Capital Management LLC lifted its holdings in Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after buying an additional 711,218 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $32,008,000. Finally, FIL Ltd boosted its position in Zions Bancorporation, N.A. by 117.6% during the 4th quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock valued at $65,160,000 after acquiring an additional 601,610 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

ZION has been the subject of several research reports. DA Davidson increased their target price on 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 upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Robert W. Baird reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Zions Bancorporation, N.A. in a research note on Tuesday. Morgan Stanley decreased their price objective 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. Finally, Stephens began coverage on Zions Bancorporation, N.A. in a research report on Monday, June 15th. They set an “overweight” rating and a $79.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.35.

Zions Bancorporation, N.A. Trading Down 0.3%

Zions Bancorporation, N.A. stock opened at $68.30 on Thursday. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $69.08. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 2.27 and a beta of 0.81. The business’s fifty day simple moving average is $63.10 and its two-hundred day simple moving average is $60.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $1.13 earnings per share. As a group, equities analysts predict that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.

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

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 27.99%.

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.