Capstone Investment Advisors LLC Acquires Shares of 10,968 Zions Bancorporation, N.A. $ZION

Capstone Investment Advisors LLC purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,968 shares of the bank’s stock, valued at approximately $759,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $982,244,000. Norges Bank purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $105,700,000. Bank of New York Mellon Corp bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at about $87,961,000. Balyasny Asset Management L.P. boosted its holdings in Zions Bancorporation, N.A. by 1,270.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock worth $67,145,000 after purchasing an additional 1,063,303 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth about $71,767,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $67.78 on Friday. The firm has a market capitalization 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 company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $69.87 and a two-hundred day moving average price of $63.83. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month 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, beating the consensus estimate of $1.57 by $0.17. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 earnings per share. Equities analysts forecast that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm 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 2.8%. The ex-dividend date of this dividend was Thursday, August 13th. This is a positive change 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. declared that its board has authorized a share buyback plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Cowen lifted their target price on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. Morgan Stanley boosted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, Stephens decreased their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.29.

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

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the sale, the executive vice president owned 17,449 shares in the company, valued at $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott A. Law sold 4,608 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares of the company’s stock, valued at $2,381,893.80. The trade was a 12.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 88,787 shares of company stock valued at $6,283,858 in the last 90 days. 1.43% of the stock is currently owned by company insiders.

About Zions Bancorporation, N.A.

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.