Jupiter Topco LLC Purchases Shares of 65,255 Zions Bancorporation, N.A. $ZION

Jupiter Topco LLC acquired a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,255 shares of the bank’s stock, valued at approximately $4,516,000.

Other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC raised its stake in shares of Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after purchasing an additional 349 shares in the last quarter. Leonteq Securities AG bought a new position in Zions Bancorporation, N.A. in the fourth quarter worth $32,000. Trust Co. of Vermont acquired a new stake in Zions Bancorporation, N.A. during the second quarter worth $35,000. Atlas Capital Advisors Inc. acquired a new stake in Zions Bancorporation, N.A. during the fourth quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Zions Bancorporation, N.A. in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Activity

In related news, EVP Derek Steward sold 894 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 17,449 shares of the company’s stock, valued at $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Scott J. Mclean sold 33,285 shares of Zions Bancorporation, N.A. 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 completion of the transaction, the president owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. The trade was a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 88,787 shares of company stock worth $6,283,858. Insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

ZION has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. Evercore lowered shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price on the stock. in a research report on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Stephens dropped their price target on shares of 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. Finally, Robert W. Baird raised their price target on shares of 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 investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Stock Down 1.6%

ZION opened at $66.69 on Tuesday. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50-day simple moving average is $69.86 and its 200-day simple moving average is $63.83. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.17. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. Equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.6 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock repurchase program on Thursday, July 30th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 0.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 24.46%.

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.