Jupiter Topco LLC Acquires Shares of 65,255 Zions Bancorporation, N.A. $ZION

Jupiter Topco LLC bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) in the second quarter, HoldingsChannel.com reports. The fund bought 65,255 shares of the bank’s stock, valued at approximately $4,516,000.

A number of other large investors also recently modified their holdings of ZION. BlackRock Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $982,244,000. Dimensional Fund Advisors LP raised its position in Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock worth $430,813,000 after purchasing an additional 56,438 shares during the last quarter. LSV Asset Management lifted its holdings in Zions Bancorporation, N.A. by 1.3% during the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after buying an additional 48,346 shares in the last quarter. Morgan Stanley lifted its holdings in Zions Bancorporation, N.A. by 10.8% during the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after buying an additional 306,717 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after buying an additional 711,218 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

Shares of Zions Bancorporation, N.A. stock opened at $66.69 on Tuesday. The firm has a fifty day moving average of $69.86 and a two-hundred day moving average of $63.83. 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 stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.61 and a beta of 0.81. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34.

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

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 issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 24.46%.

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback program on Thursday, July 30th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZION. DA Davidson lifted their target price on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada upped their price target on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a report on Tuesday, July 21st. Cantor Fitzgerald lifted their price objective on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. Six equities 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. Based on data from MarketBeat, Zions Bancorporation, N.A. has a consensus rating of “Hold” and a consensus price target of $71.29.

Insiders Place Their Bets

In other news, EVP Scott A. Law sold 4,608 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares in the company, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 88,787 shares of company stock worth $6,283,858. Insiders own 1.43% of the company’s stock.

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.