Fifth Third Bancorp Grows Stock Holdings in Zions Bancorporation, N.A. $ZION

Fifth Third Bancorp lifted its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 920.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,994 shares of the bank’s stock after acquiring an additional 77,567 shares during the quarter. Fifth Third Bancorp’s holdings in Zions Bancorporation, N.A. were worth $4,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Zions Bancorporation, N.A. by 17.1% during the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock valued at $70,000 after purchasing an additional 174 shares in the last quarter. Michels Family Financial LLC grew its stake in shares of Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after acquiring an additional 185 shares during the last quarter. C M Bidwell & Associates Ltd. increased its holdings in shares of Zions Bancorporation, N.A. by 13.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock valued at $91,000 after acquiring an additional 185 shares in the last quarter. Alta Capital Management LLC increased its holdings in shares of Zions Bancorporation, N.A. by 0.7% during the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock valued at $1,630,000 after acquiring an additional 203 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Zions Bancorporation, N.A. by 3.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank’s stock valued at $462,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Shares of Zions Bancorporation, N.A. stock opened at $72.27 on Friday. The business has a 50 day simple moving average of $65.74 and a two-hundred day simple moving average of $61.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $10.63 billion, a P/E ratio of 11.24, a PEG ratio of 1.75 and a beta of 0.80. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same quarter in the prior year, the firm earned $1.13 earnings per share. As a group, analysts predict that Zions Bancorporation, N.A. will post 6.49 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has authorized a stock 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 purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 27.99%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ZION shares. Morgan Stanley raised their price target 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. Truist Financial increased their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Citigroup boosted their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. DA Davidson upped their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, Stephens assumed coverage on shares of Zions Bancorporation, N.A. in a report on Monday, June 15th. They set an “overweight” rating and a $79.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.12.

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.