United Capital Financial Advisors LLC Acquires New Position in Zions Bancorporation, N.A. $ZION

United Capital Financial Advisors LLC acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,559 shares of the bank’s stock, valued at approximately $661,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth $982,244,000. Norges Bank bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth $105,700,000. Bank of New York Mellon Corp purchased a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at $87,961,000. Balyasny Asset Management L.P. raised its holdings in shares of Zions Bancorporation, N.A. by 1,270.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock valued at $67,145,000 after acquiring an additional 1,063,303 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Zions Bancorporation, N.A. in the second quarter valued at about $71,767,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. Trading Down 1.6%

Shares of NASDAQ ZION opened at $66.69 on Tuesday. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $73.34. The business has a fifty day moving average price of $69.86 and a 200 day moving average price of $63.83. The stock has a market capitalization of $9.73 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Equities research analysts expect that Zions Bancorporation, N.A. will post 6.6 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $0.48 dividend. The ex-dividend date was Thursday, August 13th. 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. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 24.46%.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 30th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the bank to buy up to 0.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

ZION has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Evercore lowered shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a report on Thursday, July 23rd. TD Cowen upped their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price objective on the stock. in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their price objective on shares of 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. Six research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.29.

Insider Transactions at Zions Bancorporation, N.A.

In other news, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the transaction, the executive vice president owned 17,449 shares of the company’s stock, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott A. Law sold 4,608 shares of the business’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 transaction of $333,711.36. Following the transaction, the executive vice president owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. This trade represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 88,787 shares of company stock valued at $6,283,858 in the last 90 days. Insiders own 1.43% of the company’s stock.

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.