Edgestream Partners L.P. Purchases 85,458 Shares of Zions Bancorporation, N.A. $ZION

Edgestream Partners L.P. increased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 74.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,682 shares of the bank’s stock after purchasing an additional 85,458 shares during the period. Zions Bancorporation, N.A. comprises about 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 24th largest position. Edgestream Partners L.P.’s holdings in Zions Bancorporation, N.A. were worth $11,506,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ZION. Torren Management LLC bought a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at $32,000. Leonteq Securities AG bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $32,000. Atlas Capital Advisors Inc. acquired 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 shares of Zions Bancorporation, N.A. during the 4th quarter valued at about $42,000. Finally, International Assets Investment Management LLC bought a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at about $49,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Trading Down 0.9%

Shares of Zions Bancorporation, N.A. stock opened at $68.92 on Thursday. The stock has a market capitalization of $10.14 billion, a P/E ratio of 8.78, a price-to-earnings-growth 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. The company has a 50-day simple moving average of $67.21 and a 200 day simple moving average of $62.38. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a 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. declared that its board has approved a share repurchase program on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ZION. Royal Bank Of Canada increased their price target on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Truist Financial lifted their price objective on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a report on Friday, July 10th. 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 research note on Thursday, April 2nd. 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 cut their target price on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.29.

Insider Activity

In other news, EVP Derek Steward sold 894 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the transaction, the executive vice president directly owned 17,449 shares of the company’s stock, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The SEC filing for this sale provides additional information. Insiders have sold 5,653 shares of company stock worth $359,958 over the last ninety days. Insiders own 1.43% of the company’s stock.

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.