Arbejdsmarkedets Tillaegspension Increases Stock Position in Zions Bancorporation, N.A. $ZION

Arbejdsmarkedets Tillaegspension grew its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 450,669 shares of the bank’s stock after buying an additional 36,071 shares during the quarter. Zions Bancorporation, N.A. accounts for 0.6% of Arbejdsmarkedets Tillaegspension’s portfolio, making the stock its 21st largest position. Arbejdsmarkedets Tillaegspension’s holdings in Zions Bancorporation, N.A. were worth $25,968,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Torren Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Leonteq Securities AG purchased a new position in Zions Bancorporation, N.A. in the 4th quarter worth approximately $32,000. Community Bank N.A. acquired a new stake in Zions Bancorporation, N.A. in the third quarter valued at approximately $36,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $36,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $70.66 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $71.26. The firm’s 50-day simple moving average is $64.90 and its 200 day simple moving average is $61.39. The stock has a market cap of $10.39 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its 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 for 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 quarter in the previous year, the business earned $1.13 EPS. As a group, sell-side analysts predict that Zions Bancorporation, N.A. will post 6.49 EPS for the current year.

Zions Bancorporation, N.A. declared that its board has authorized a stock buyback plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase 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 shares are undervalued.

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s payout ratio is presently 27.99%.

Analyst Upgrades and Downgrades

ZION has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Citigroup lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Piper Sandler cut their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. JPMorgan Chase & Co. increased their target price on Zions Bancorporation, N.A. from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Finally, Barclays raised their price target on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.18.

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.