Harbor Investment Advisory LLC Cuts Holdings in Zions Bancorporation, N.A. $ZION

Harbor Investment Advisory LLC lessened its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 96.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,194 shares of the bank’s stock after selling 60,734 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Zions Bancorporation, N.A. were worth $124,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB raised its holdings in Zions Bancorporation, N.A. by 15.0% during the second quarter. Nordea Investment Management AB now owns 256,710 shares of the bank’s stock worth $13,349,000 after purchasing an additional 33,449 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at $814,000. LSV Asset Management grew its position in shares of Zions Bancorporation, N.A. by 4.5% in the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock valued at $205,689,000 after buying an additional 169,085 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Zions Bancorporation, N.A. during the 2nd quarter worth $452,000. Finally, Gateway Investment Advisers LLC lifted its position in Zions Bancorporation, N.A. by 156.5% in the third quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock valued at $4,857,000 after acquiring an additional 52,381 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Up 0.5%

ZION stock opened at $58.79 on Thursday. The stock has a market capitalization of $8.68 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.26 and a beta of 0.85. The company has a fifty day moving average of $56.21 and a 200-day moving average of $55.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $61.57.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, October 20th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.29. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. The firm had revenue of $872.00 million during the quarter, compared to analysts’ expectations of $842.68 million. During the same period in the prior year, the company posted $1.37 earnings per share. As a group, analysts expect that Zions Bancorporation, N.A. will post 5.39 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a $0.45 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. Zions Bancorporation, N.A.’s payout ratio is 32.26%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZION. Jefferies Financial Group raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and boosted their target price for the company from $55.00 to $60.00 in a report on Wednesday, November 19th. Zacks Research cut Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Bank of America upgraded shares of Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $59.00 to $62.00 in a research report on Thursday, October 23rd. Piper Sandler reduced their price target on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Finally, Evercore ISI downgraded shares of Zions Bancorporation, N.A. from an “outperform” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.16.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 2,458 shares of the 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 transaction, the executive vice president owned 27,133 shares in the company, valued at approximately $1,441,033.63. This represents a 8.31% 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. 2.22% of the stock is owned by corporate 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.