15,242 Shares in Zions Bancorporation, N.A. $ZION Purchased by Kentucky Retirement Systems

Kentucky Retirement Systems bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 15,242 shares of the bank’s stock, valued at approximately $878,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Zions Bancorporation, N.A. by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock worth $430,813,000 after purchasing an additional 56,438 shares in the last quarter. LSV Asset Management grew its holdings in shares of Zions Bancorporation, N.A. by 1.3% in the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after purchasing an additional 48,346 shares in the last quarter. Morgan Stanley grew its holdings in shares of Zions Bancorporation, N.A. by 10.8% in the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after purchasing an additional 306,717 shares in the last quarter. AQR Capital Management LLC increased its stake in Zions Bancorporation, N.A. by 31.6% during 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 period. Finally, Geode Capital Management LLC increased its stake in Zions Bancorporation, N.A. by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock worth $173,501,000 after buying an additional 30,881 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ZION. DA Davidson raised their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Barclays upped their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 22nd. Truist Financial increased their price objective on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Wells Fargo & Company lifted their target price on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Robert W. Baird boosted their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.29.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $69.70 on Friday. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.66 and a beta of 0.80. The firm’s fifty day simple moving average is $67.51 and its 200-day simple moving average is $62.50. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be paid a $0.48 dividend. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, August 13th. Zions Bancorporation, N.A.’s payout ratio is 22.93%.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock repurchase program on Saturday, May 2nd that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $62,267.10. Following the sale, the executive vice president owned 17,449 shares of the company’s stock, valued at $1,215,322.85. This represents a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,653 shares of company stock valued at $359,958 over the last ninety days. 1.43% of the stock is owned by company insiders.

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.