22,500 Shares in Zions Bancorporation, N.A. $ZION Acquired by Flywheel Private Wealth LLC

Flywheel Private Wealth LLC purchased a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 22,500 shares of the bank’s stock, valued at approximately $1,296,000. Zions Bancorporation, N.A. comprises approximately 0.7% of Flywheel Private Wealth LLC’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Zions Bancorporation, N.A. during the fourth quarter worth approximately $32,000. Leonteq Securities AG bought a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth $32,000. Community Bank N.A. acquired a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at $36,000. Atlas Capital Advisors Inc. acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at $36,000. Finally, V Square Quantitative Management LLC bought a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler lowered their price objective on shares of 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. Robert W. Baird boosted their target price on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Barclays upped their target price on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, April 22nd. Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Truist Financial boosted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.35.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock opened at $66.17 on Monday. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $67.99. The company’s 50 day moving average price is $62.71 and its two-hundred day moving average price is $60.16. The stock has a market cap of $9.73 billion, a P/E ratio of 10.29, a P/E/G ratio of 2.19 and a beta of 0.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27.

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

Zions Bancorporation, N.A. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.7%. Zions Bancorporation, N.A.’s payout ratio is currently 27.99%.

Zions Bancorporation, N.A. declared that its board has authorized a stock buyback plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is owned by company insiders.

Zions Bancorporation, N.A. Company 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.