Quantinno Capital Management LP Purchases 414,902 Shares of Zions Bancorporation, N.A. $ZION

Quantinno Capital Management LP lifted its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 50.1% during the 1st quarter, HoldingsChannel reports. The fund owned 1,242,578 shares of the bank’s stock after purchasing an additional 414,902 shares during the period. Quantinno Capital Management LP’s holdings in Zions Bancorporation, N.A. were worth $71,597,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Torren Management LLC bought a new position in Zions Bancorporation, N.A. in the fourth quarter valued at about $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth about $36,000. V Square Quantitative Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $42,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Evercore downgraded 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. Citigroup upped their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company raised their price target 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. Cantor Fitzgerald boosted 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, Robert W. Baird raised their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Zions Bancorporation, N.A. currently has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Stock Up 1.5%

Zions Bancorporation, N.A. stock opened at $69.52 on Wednesday. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 1.64 and a beta of 0.80. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $73.34. 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 has a 50 day moving average price of $67.06 and a two-hundred day moving average price of $62.32.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio is 22.93%.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a share repurchase plan on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction 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 document filed with the SEC, which is available at this hyperlink. 1.43% of the stock is owned by corporate insiders.

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.