Zions Bancorporation, N.A. $ZION Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 46.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,086,078 shares of the bank’s stock after selling 954,985 shares during the period. Thrivent Financial for Lutherans’ holdings in Zions Bancorporation, N.A. were worth $63,579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ZION. Royal Bank of Canada grew its stake in Zions Bancorporation, N.A. by 76.3% in the 1st quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after acquiring an additional 59,483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Zions Bancorporation, N.A. by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after purchasing an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Zions Bancorporation, N.A. by 0.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after purchasing an additional 2,659 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Zions Bancorporation, N.A. by 91.7% during the 1st quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after purchasing an additional 10,283 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Zions Bancorporation, N.A. by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after purchasing an additional 625 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZION. Barclays raised their price target on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. DA Davidson raised their price target on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Stephens raised their price target on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One equities research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $65.53.

Zions Bancorporation, N.A. Price Performance

ZION opened at $59.63 on Friday. The company’s 50 day simple moving average is $59.05 and its 200 day simple moving average is $58.08. 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 stock has a market capitalization of $8.77 billion, a PE ratio of 9.27, a P/E/G ratio of 1.99 and a beta of 0.83.

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

Zions Bancorporation, N.A. announced that its board has initiated a stock buyback program on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Announces Dividend

The business 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 $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 27.99%.

Insider Activity at Zions Bancorporation, N.A.

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 bought 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the transaction, the chief executive officer directly owned 1,317,493 shares of the company’s stock, valued at approximately $77,771,611.79. The trade was a 0.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 7,038 shares of company stock worth $439,948 over the last three months. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Company 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.