Perigon Wealth Management LLC Acquires Shares of 25,118 Zions Bancorporation, N.A. $ZION

Perigon Wealth Management LLC acquired a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,118 shares of the bank’s stock, valued at approximately $1,738,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. increased its position in shares of Zions Bancorporation, N.A. by 5.2% during the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after buying an additional 157 shares during the period. Michels Family Financial LLC lifted its holdings in 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 buying an additional 185 shares during the period. C M Bidwell & Associates Ltd. lifted its holdings in Zions Bancorporation, N.A. by 13.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after buying an additional 185 shares during the period. Alta Capital Management LLC boosted its position in Zions Bancorporation, N.A. by 0.7% during the 4th 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, Modern Wealth Management LLC grew its holdings in shares of Zions Bancorporation, N.A. by 4.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock worth $272,000 after acquiring an additional 209 shares during the period. 76.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ZION shares. TD Cowen increased their target price on 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. DA Davidson increased their price objective on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Stephens reduced their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Finally, Evercore lowered shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $71.58 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $73.34. The firm has a market cap of $10.45 billion, a PE ratio of 9.12, a P/E/G ratio of 1.72 and a beta of 0.81. The firm has a fifty day simple moving average of $69.49 and a two-hundred day simple moving average of $63.43.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.57 by $0.17. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.Zions Bancorporation, N.A.’s revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 EPS. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, August 13th. This is an increase 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. announced that its Board of Directors has initiated a share repurchase plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Zions Bancorporation, N.A. news, EVP Scott A. Law sold 4,608 shares of the 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 sale, the executive vice president owned 32,890 shares in the company, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Scott J. Mclean sold 33,285 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the sale, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,787 shares of company stock valued at $6,283,858 in the last ninety days. Corporate insiders own 1.43% of the company’s stock.

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.