First Trust Advisors LP Has $69.78 Million Position in Zions Bancorporation, N.A. $ZION

First Trust Advisors LP grew its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 48.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,233,337 shares of the bank’s stock after buying an additional 405,182 shares during the period. First Trust Advisors LP owned 0.84% of Zions Bancorporation, N.A. worth $69,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Traub Capital Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the second quarter worth approximately $31,000. Assetmark Inc. increased its position in Zions Bancorporation, N.A. by 75.3% during the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after purchasing an additional 289 shares during the period. Steph & Co. acquired a new stake in Zions Bancorporation, N.A. during the 3rd quarter valued at approximately $37,000. Salomon & Ludwin LLC bought a new position in Zions Bancorporation, N.A. during the 3rd quarter worth approximately $37,000. Finally, Quent Capital LLC acquired a new position in shares of Zions Bancorporation, N.A. in the 3rd quarter worth approximately $45,000. 76.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Stephens lifted their target price on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Piper Sandler upped their price target on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Evercore increased their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Finally, TD Cowen lifted their price objective on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.58.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock opened at $55.42 on Wednesday. The firm has a 50 day moving average of $60.12 and a 200-day moving average of $57.02. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 9.24 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.64. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 30.00%.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, VP Eric Ellingsen sold 1,519 shares of Zions Bancorporation, N.A. stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $61.27, for a total value of $93,069.13. Following the completion of the sale, the vice president directly owned 40,361 shares of the company’s stock, valued at approximately $2,472,918.47. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Anne Smith sold 2,089 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $62.48, for a total transaction of $130,520.72. Following the transaction, the executive vice president owned 22,733 shares in the company, valued at $1,420,357.84. This represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 55,581 shares of company stock valued at $3,498,774. 1.77% of the stock is currently owned by corporate insiders.

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.