Paragon Capital Management LLC Buys 2,547 Shares of Zions Bancorporation NA (NASDAQ:ZION)

Paragon Capital Management LLC lifted its stake in shares of Zions Bancorporation NA (NASDAQ:ZION) by 2.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 115,784 shares of the bank’s stock after acquiring an additional 2,547 shares during the period. Zions Bancorporation NA makes up 2.4% of Paragon Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Paragon Capital Management LLC owned about 0.06% of Zions Bancorporation NA worth $5,324,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. ETF Managers Group LLC lifted its holdings in shares of Zions Bancorporation NA by 8.2% during the 1st quarter. ETF Managers Group LLC now owns 2,744 shares of the bank’s stock worth $125,000 after acquiring an additional 207 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Zions Bancorporation NA by 48.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 898 shares of the bank’s stock worth $41,000 after acquiring an additional 295 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Zions Bancorporation NA by 1.5% during the 1st quarter. CIBC Asset Management Inc now owns 22,010 shares of the bank’s stock worth $999,000 after acquiring an additional 329 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Zions Bancorporation NA by 2.6% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,827 shares of the bank’s stock worth $627,000 after acquiring an additional 355 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Zions Bancorporation NA by 3.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 11,718 shares of the bank’s stock worth $539,000 after acquiring an additional 385 shares during the last quarter. 98.30% of the stock is owned by institutional investors.

In other Zions Bancorporation NA news, insider Alexander Hume sold 9,929 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $45.17, for a total value of $448,492.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Thomas E. Laursen sold 957 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $40.75, for a total transaction of $38,997.75. The disclosure for this sale can be found here. Insiders sold 23,272 shares of company stock worth $1,041,508 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods cut shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $53.00 to $47.00 in a research report on Tuesday, July 23rd. SunTrust Banks decreased their target price on shares of Zions Bancorporation NA to $52.00 and set a “reduce” rating on the stock in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Barclays decreased their target price on shares of Zions Bancorporation NA from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Bank of America lifted their target price on shares of Zions Bancorporation NA from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets decreased their target price on shares of Zions Bancorporation NA to $47.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.56.

Shares of ZION stock traded down $0.42 during mid-day trading on Friday, reaching $40.72. The stock had a trading volume of 393,948 shares, compared to its average volume of 2,809,363. The stock’s 50-day moving average price is $43.57 and its two-hundred day moving average price is $46.31. Zions Bancorporation NA has a 52-week low of $38.08 and a 52-week high of $54.37. The firm has a market capitalization of $7.16 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 1.20 and a beta of 1.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). Zions Bancorporation NA had a net margin of 26.99% and a return on equity of 12.26%. The firm had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $723.21 million. During the same quarter in the previous year, the firm posted $0.89 EPS. On average, equities research analysts forecast that Zions Bancorporation NA will post 4.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a $0.34 dividend. This is a boost from Zions Bancorporation NA’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.34%. Zions Bancorporation NA’s payout ratio is presently 33.33%.

About Zions Bancorporation NA

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

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Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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