First Trust Advisors LP raised its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION – Free Report) by 28.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,917,826 shares of the bank’s stock after buying an additional 425,325 shares during the period. First Trust Advisors LP owned about 1.30% of Zions Bancorporation, N.A. worth $110,505,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. Bessemer Group Inc. increased its position in shares of Zions Bancorporation, N.A. by 5.2% during the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock worth $182,000 after acquiring an additional 157 shares in the last quarter. Signaturefd LLC lifted its position in Zions Bancorporation, N.A. by 17.1% in the 4th quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock valued at $70,000 after acquiring an additional 174 shares in the last quarter. Michels Family Financial LLC lifted its position in Zions Bancorporation, N.A. by 1.5% in the 4th quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock valued at $711,000 after acquiring an additional 185 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its stake in Zions Bancorporation, N.A. by 13.5% during 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 during the last quarter. Finally, Alta Capital Management LLC boosted its stake in Zions Bancorporation, N.A. by 0.7% during 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 during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.
Zions Bancorporation, N.A. Stock Down 1.3%
ZION opened at $69.16 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 1.66 and a beta of 0.80. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34. The company’s 50-day moving average price is $66.52 and its two-hundred day moving average price is $62.14.
Zions Bancorporation, N.A. Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $0.45 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio is presently 22.93%.
Zions Bancorporation, N.A. declared that its board has authorized a stock repurchase program on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of analysts have commented on ZION shares. Evercore lowered Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective for the company. in a report on Thursday. DA Davidson raised their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial lifted their target price on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Robert W. Baird upped their price target on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. presently has an average rating of “Hold” and an average target price of $71.29.
Get Our Latest Research Report on Zions Bancorporation, N.A.
Insider Buying and Selling
In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.
Key Headlines Impacting Zions Bancorporation, N.A.
Here are the key news stories impacting Zions Bancorporation, N.A. this week:
- Positive Sentiment: Several analysts reiterated upbeat views on Zions, with Wells Fargo, RBC, DA Davidson, and TD Cowen all cited as expecting meaningful upside in the stock, reinforcing a generally favorable broader sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
- Positive Sentiment: Robert W. Baird raised its price target on Zions to $75, signaling confidence in further upside from current levels. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
- Positive Sentiment: TipRanks highlighted Zions’ earnings call as showing resilient growth, which supports the bank’s fundamental story following its recent quarterly report. Zions Bancorporation Earnings Call Signals Resilient Growth
- Neutral Sentiment: Zions remains a value-name candidate in Zacks’ long-term stock screen, which may help investor interest but is not a near-term catalyst. Why Zions (ZION) is a Top Value Stock for the Long-Term
- Negative Sentiment: Evercore downgraded Zions from “outperform” to “in-line” and set a $68 target, slightly below the current share price, which appears to be the main reason for the stock’s weakness. Read More
- Negative Sentiment: Reports of the shares gapping down on the downgrade suggest traders are reacting quickly to the more cautious Evercore call. Zions Bancorporation, N.A. Shares Gap Down on Analyst Downgrade
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.
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