Bessemer Group Inc. Reduces Stake in Zions Bancorporation, N.A. $ZION

Bessemer Group Inc. lessened its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 42.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,755 shares of the bank’s stock after selling 4,882 shares during the quarter. Bessemer Group Inc.’s holdings in Zions Bancorporation, N.A. were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZION. DAVENPORT & Co LLC lifted its stake in shares of Zions Bancorporation, N.A. by 26.3% in the 1st quarter. DAVENPORT & Co LLC now owns 7,200 shares of the bank’s stock valued at $359,000 after purchasing an additional 1,500 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Zions Bancorporation, N.A. by 6.2% in the 1st quarter. Teacher Retirement System of Texas now owns 48,147 shares of the bank’s stock valued at $2,401,000 after purchasing an additional 2,821 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 340,066 shares of the bank’s stock valued at $16,956,000 after purchasing an additional 1,561 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Zions Bancorporation, N.A. by 31.8% in the 1st quarter. TD Private Client Wealth LLC now owns 3,650 shares of the bank’s stock valued at $182,000 after purchasing an additional 881 shares during the period. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 1st quarter valued at approximately $232,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Up 0.3%

Zions Bancorporation, N.A. stock opened at $52.11 on Monday. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.85 and a beta of 0.93. The stock has a fifty day simple moving average of $55.61 and a two-hundred day simple moving average of $52.26. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, June 12th. The bank reported $1.32 EPS for the quarter. The business had revenue of $705.00 million during the quarter. Zions Bancorporation, N.A. had a return on equity of 13.84% and a net margin of 17.22%. Equities analysts predict that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.80 annualized dividend and a dividend yield of 3.5%. Zions Bancorporation, N.A.’s payout ratio is presently 32.26%.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 2,458 shares of Zions Bancorporation, N.A. stock in a transaction on Monday, October 27th. The stock was sold at an average price of $53.11, for a total value of $130,544.38. Following the completion of the sale, the executive vice president owned 27,133 shares of the company’s stock, valued at $1,441,033.63. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Baird R W upgraded Zions Bancorporation, N.A. from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Cantor Fitzgerald started coverage on Zions Bancorporation, N.A. in a research report on Wednesday, September 10th. They set an “overweight” rating and a $64.00 price objective for the company. Truist Financial raised their price objective on Zions Bancorporation, N.A. from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. Bank of America raised Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $59.00 to $62.00 in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Zions Bancorporation, N.A. from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.62.

About Zions Bancorporation, N.A.

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.