iSAM Funds UK Ltd Invests $989,000 in Zions Bancorporation, N.A. $ZION

iSAM Funds UK Ltd purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,300 shares of the bank’s stock, valued at approximately $989,000.

Other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. raised its position in Zions Bancorporation, N.A. by 5.2% in the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock worth $182,000 after acquiring an additional 157 shares in the last quarter. Michels Family Financial LLC lifted its holdings in Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock valued at $711,000 after acquiring an additional 185 shares during the period. C M Bidwell & Associates Ltd. boosted its position in shares of Zions Bancorporation, N.A. by 13.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after purchasing an additional 185 shares in the last quarter. Alta Capital Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 0.7% during the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after purchasing an additional 203 shares during the period. Finally, Modern Wealth Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 4.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock worth $272,000 after purchasing an additional 209 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 recently commented on ZION. Truist Financial raised their price objective on shares of 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. DA Davidson upped their target price on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Robert W. Baird increased their target price on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. TD Cowen lifted their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock opened at $68.02 on Thursday. The firm has a market capitalization of $9.93 billion, a PE ratio of 8.66, a P/E/G ratio of 1.12 and a beta of 0.78. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $73.34. The firm’s 50-day simple moving average is $69.81 and its 200 day simple moving average is $63.91. 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. (NASDAQ:ZION) last announced its earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $877.44 million. During the same quarter in the previous year, the business posted $1.63 earnings per share. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, equities research analysts predict that Zions Bancorporation, N.A. will post 6.6 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were given a dividend of $0.48 per share. The ex-dividend date was Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s payout ratio is presently 24.46%.

Zions Bancorporation, N.A. declared that its board has initiated a share buyback plan on Thursday, July 30th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Scott A. Law sold 4,608 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total value of $333,711.36. Following the sale, the executive vice president owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Scott J. Mclean sold 33,285 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total value of $2,350,919.55. Following the sale, the president owned 73,043 shares in the company, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 88,787 shares of company stock worth $6,283,858 in the last ninety days. 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.