Deutsche Bank AG Acquires New Position in Zions Bancorporation, N.A. $ZION

Deutsche Bank AG acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,037,241 shares of the bank’s stock, valued at approximately $71,767,000.

A number of other institutional investors have also bought and sold shares of ZION. Perigon Wealth Management LLC acquired a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $1,738,000. Trust Co. of Vermont purchased a new stake in shares of Zions Bancorporation, N.A. in the second quarter valued at approximately $35,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the second quarter valued at approximately $208,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Zions Bancorporation, N.A. in the second quarter valued at approximately $61,000. Finally, HBK Sorce Advisory LLC purchased a new position in Zions Bancorporation, N.A. during the second quarter worth approximately $3,874,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Performance

Shares of Zions Bancorporation, N.A. stock opened at $67.89 on Friday. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34. The business’s fifty day simple moving average is $69.69 and its 200-day simple moving average is $63.63. The firm has a market cap of $9.91 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 1.62 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.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The company’s revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. Equities analysts forecast that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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 $0.48 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 24.46%.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Scott A. Law sold 4,608 shares of the stock in a transaction dated Tuesday, August 4th. The shares were 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 owned 32,890 shares of the company’s stock, valued at $2,381,893.80. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, July 28th. The shares were 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 of the company’s stock, valued at approximately $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 88,787 shares of company stock valued at $6,283,858 over the last 90 days. 1.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on ZION shares. Morgan Stanley upped their target price on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Robert W. Baird lifted their price target on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. TD Cowen boosted their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald upped their price objective on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their price objective on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $71.29.

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.