Zions Bancorporation, National Association (NASDAQ:ZION) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in Zions Bancorporation, National Association (NASDAQ:ZION) by 459.6% in the 1st quarter, HoldingsChannel reports. The fund owned 158,961 shares of the bank’s stock after acquiring an additional 130,556 shares during the period. SG Americas Securities LLC’s holdings in Zions Bancorporation, National Association were worth $7,926,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Curat Global LLC acquired a new position in Zions Bancorporation, National Association in the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC raised its holdings in Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after acquiring an additional 183 shares during the last quarter. Covestor Ltd raised its holdings in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after acquiring an additional 479 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after acquiring an additional 493 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Zions Bancorporation, National Association in the 1st quarter valued at $50,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZION has been the subject of several analyst reports. Argus upgraded Zions Bancorporation, National Association from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Monday, April 28th. Wells Fargo & Company lowered their price objective on shares of Zions Bancorporation, National Association from $58.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Zions Bancorporation, National Association in a research note on Wednesday, May 21st. They set an “underperform” rating and a $40.00 price objective for the company. Truist Financial assumed coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday, May 13th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.94.

Zions Bancorporation, National Association Stock Down 1.8%

Shares of NASDAQ ZION opened at $48.91 on Thursday. Zions Bancorporation, National Association has a 12-month low of $39.32 and a 12-month high of $63.22. The company has a market cap of $7.22 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.61 and a beta of 0.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $46.20 and a 200 day moving average price of $51.70.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Zions Bancorporation, National Association had a return on equity of 13.65% and a net margin of 15.70%. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. During the same period in the prior year, the firm earned $0.96 EPS. Research analysts anticipate that Zions Bancorporation, National Association will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Zions Bancorporation, National Association Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.52%. Zions Bancorporation, National Association’s dividend payout ratio is currently 33.59%.

Zions Bancorporation, National Association Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.