Corient Private Wealth LLC Boosts Stake in Zions Bancorporation, N.A. $ZION

Corient Private Wealth LLC increased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,819 shares of the bank’s stock after purchasing an additional 14,601 shares during the quarter. Corient Private Wealth LLC’s holdings in Zions Bancorporation, N.A. were worth $8,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ZION. Torren Management LLC purchased a new position in Zions Bancorporation, N.A. in the 4th quarter worth about $32,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Community Bank N.A. purchased a new stake in shares of Zions Bancorporation, N.A. during the 3rd quarter valued at about $36,000. Atlas Capital Advisors Inc. bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth approximately $42,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $68.30 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 2.27 and a beta of 0.81. The company’s 50 day moving average is $63.10 and its 200 day moving average is $60.44. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $69.08.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $853.73 million. During the same period in the prior year, the company earned $1.13 earnings per share. On average, equities research analysts predict that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a share repurchase program on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s payout ratio is presently 27.99%.

Insider Activity at Zions Bancorporation, N.A.

In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZION. Truist Financial increased their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. Citigroup boosted their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. increased their price target on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Morgan Stanley dropped their price target on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Finally, Stephens initiated coverage on Zions Bancorporation, N.A. in a report on Monday, June 15th. They issued an “overweight” rating and a $79.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and an average target price of $66.35.

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.