Zions Bancorporation, N.A. $ZION Stock Position Reduced by Weiss Asset Management LP

Weiss Asset Management LP decreased its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 65.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 19,740 shares of the bank’s stock after selling 36,985 shares during the period. Weiss Asset Management LP’s holdings in Zions Bancorporation, N.A. were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ZION. Torren Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $36,000. V Square Quantitative Management LLC acquired a new stake in Zions Bancorporation, N.A. during the fourth quarter worth about $42,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $49,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

ZION stock opened at $68.52 on Tuesday. The company has a 50-day simple moving average of $66.88 and a 200 day simple moving average of $62.26. The company has a market capitalization of $10.08 billion, a P/E ratio of 8.73, a PEG ratio of 1.66 and a beta of 0.80. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 22.93%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup raised their target price on 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. Piper Sandler decreased their target price on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Robert W. Baird raised their price target on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Stephens decreased their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and a consensus target price of $71.29.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.43% of the company’s stock.

About Zions Bancorporation, N.A.

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.