Zions Bancorporation, N.A. $ZION Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,963,243 shares of the bank’s stock after acquiring an additional 30,881 shares during the period. Geode Capital Management LLC’s holdings in Zions Bancorporation, N.A. were worth $173,501,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Zions Bancorporation, N.A. by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,343,076 shares of the bank’s stock worth $415,474,000 after buying an additional 30,552 shares during the last quarter. LSV Asset Management boosted its holdings in Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after buying an additional 48,346 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after buying an additional 711,218 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Zions Bancorporation, N.A. by 23.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,621,400 shares of the bank’s stock worth $91,739,000 after buying an additional 303,783 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Zions Bancorporation, N.A. by 4.4% in the 3rd quarter. Invesco Ltd. now owns 1,616,549 shares of the bank’s stock worth $91,464,000 after buying an additional 68,351 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Trading Down 2.0%

ZION opened at $60.76 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day simple moving average is $60.86 and its two-hundred day simple moving average is $59.01. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $66.18. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The business had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. During the same period last year, the company posted $1.13 EPS. Analysts expect that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has authorized a share buyback program on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 27.99%.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ZION shares. JPMorgan Chase & Co. lifted their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. TD Cowen lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. DA Davidson lifted their price objective on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Piper Sandler lowered their price objective on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Citigroup lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.53.

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.