Hsbc Holdings PLC Purchases 15,805 Shares of Zions Bancorporation, N.A. $ZION

Hsbc Holdings PLC raised its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 41.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,595 shares of the bank’s stock after acquiring an additional 15,805 shares during the period. Hsbc Holdings PLC’s holdings in Zions Bancorporation, N.A. were worth $3,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, N.A. by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,420,688 shares of the bank’s stock worth $434,407,000 after purchasing an additional 77,612 shares in the last quarter. LSV Asset Management increased its position in Zions Bancorporation, N.A. by 1.3% during the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after buying an additional 48,346 shares in the last quarter. Morgan Stanley raised its stake in Zions Bancorporation, N.A. by 10.8% in the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after buying an additional 306,717 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after acquiring an additional 711,218 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock worth $173,501,000 after acquiring an additional 30,881 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION opened at $69.29 on Friday. The company has a 50 day simple moving average of $66.71 and a two-hundred day simple moving average of $62.19. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 1.66 and a beta of 0.80. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a stock buyback plan on Saturday, May 2nd that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the bank to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 22.93%.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Key Stories Impacting Zions Bancorporation, N.A.

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Robert W. Baird raised its price target on Zions Bancorporation, N.A. (ZION) to $75, signaling room for further upside. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
• Positive Sentiment: Wells Fargo, RBC, TD Cowen, and DA Davidson all issued bullish notes or strong appreciation forecasts for Zions Bancorporation, N.A. (ZION), reinforcing expectations for further share gains. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says TD Cowen Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock DA Davidson Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock
• Neutral Sentiment: Shares also saw unusually heavy options activity, suggesting traders are positioning for a larger move but without clear direction. Zions Bancorporation, N.A. Target of Unusually Large Options Trading (NASDAQ:ZION)
• Negative Sentiment: Evercore downgraded Zions Bancorporation, N.A. (ZION) from outperform to in-line and set a $68 target, implying modest downside from recent levels. Read More
• Negative Sentiment: Another report said ZION shares were gapping down on the analyst downgrade, highlighting that the downgrade is the main bearish catalyst weighing on sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Shares Gap Down on Analyst Downgrade
• Negative Sentiment: Stephens also lowered expectations for Zions Bancorporation, N.A. (ZION), adding to the pressure from the Evercore downgrade. Stephens Has Lowered Expectations for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Analysts Set New Price Targets

ZION has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Cantor Fitzgerald lifted their price objective on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Truist Financial upped their target price on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Six 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.29.

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.