Great Lakes Advisors LLC Buys New Position in Zions Bancorporation, N.A. $ZION

Great Lakes Advisors LLC bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 81,498 shares of the bank’s stock, valued at approximately $5,639,000.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Zions Bancorporation, N.A. by 76.3% during the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock worth $6,853,000 after buying an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after acquiring an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Zions Bancorporation, N.A. by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after acquiring an additional 2,659 shares during the last quarter. Focus Partners Wealth increased its position in Zions Bancorporation, N.A. by 91.7% during the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after acquiring an additional 10,283 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Zions Bancorporation, N.A. by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after acquiring an additional 625 shares during the period. 76.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 33,285 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the transaction, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott A. Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the transaction, the executive vice president directly owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 88,787 shares of company stock worth $6,283,858 in the last 90 days. 1.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

ZION has been the subject of a number of research reports. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Cantor Fitzgerald boosted their price objective on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. lowered shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price objective for the company. in a research report on Tuesday, July 21st. Citigroup increased their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Robert W. Baird lifted their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $68.29 on Thursday. The stock has a market cap of $9.97 billion, a P/E ratio of 8.70, a PEG ratio of 1.69 and a beta of 0.81. The company’s 50-day simple moving average is $69.66 and its 200 day simple moving average is $63.58. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34. 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 announced its quarterly earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 earnings per share. As a group, research analysts forecast that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock repurchase plan on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to purchase 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 stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be given a dividend of $0.48 per share. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

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.