Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Zions Bancorporation, N.A. $ZION

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,452 shares of the bank’s stock, valued at approximately $4,124,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Zions Bancorporation, N.A. by 31.6% in 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 in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at about $32,008,000. Balyasny Asset Management L.P. acquired a new position in Zions Bancorporation, N.A. during the second quarter worth about $31,224,000. Mackenzie Financial Corp lifted its holdings in shares of Zions Bancorporation, N.A. by 2,982.2% in the third quarter. Mackenzie Financial Corp now owns 489,478 shares of the bank’s stock valued at $27,695,000 after purchasing an additional 473,597 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at about $24,271,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ZION shares. Truist Financial raised their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. Robert W. Baird increased their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Royal Bank Of Canada raised their price target on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 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, TD Cowen upped their price objective on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.53.

Zions Bancorporation, N.A. Stock Up 2.5%

Shares of NASDAQ ZION opened at $61.71 on Thursday. The firm has a market cap of $9.08 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation, N.A. has a 1 year low of $45.52 and a 1 year high of $66.18. The firm’s 50 day moving average price is $59.31 and its 200 day moving average price is $58.30.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The company had revenue of $859.00 million during the quarter, compared to the consensus estimate of $853.73 million. During the same period in the previous year, the firm posted $1.13 EPS. As a group, sell-side analysts anticipate that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.9%. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Zions Bancorporation, N.A. announced that its board has initiated a share buyback plan on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s 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 SEC, which is available through this link. Also, CEO Harris H. Simmons purchased 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were bought at an average cost of $59.03 per share, with a total value of $265,635.00. Following the transaction, the chief executive officer directly owned 1,317,493 shares of the company’s stock, valued at $77,771,611.79. The trade was a 0.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 4,949 shares of company stock valued at $309,427 in the last 90 days. 1.43% of the stock is owned by company insiders.

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.