Corient Private Wealth LP Takes Position in Zions Bancorporation, N.A. $ZION

Corient Private Wealth LP acquired a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 287,137 shares of the bank’s stock, valued at approximately $19,867,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at $87,961,000. Basswood Capital Management L.L.C. raised its position in shares of Zions Bancorporation, N.A. by 266.4% in the 4th quarter. Basswood Capital Management L.L.C. now owns 404,520 shares of the bank’s stock worth $23,681,000 after acquiring an additional 294,121 shares in the last quarter. LSV Asset Management raised its position in shares of Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after acquiring an additional 48,346 shares in the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth $3,353,000. Finally, Deutsche Bank AG bought a new stake in Zions Bancorporation, N.A. during the second quarter valued at about $71,767,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Scott A. Law sold 4,608 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the transaction, the executive vice president owned 32,890 shares in the company, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Scott J. Mclean sold 33,285 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the transaction, the president directly owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 88,787 shares of company stock worth $6,283,858. 1.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ZION has been the topic of several analyst reports. Stephens cut their target price on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Robert W. Baird lifted their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Morgan Stanley increased their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $67.78 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $9.89 billion, a PE ratio of 8.63, a P/E/G ratio of 1.61 and a beta of 0.81. The business has a 50-day simple moving average of $69.87 and a two-hundred day simple moving average of $63.83. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.17. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 6.6 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a share repurchase plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.92 annualized dividend and a yield of 2.8%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s payout ratio is presently 24.46%.

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.