BlackRock Inc. Buys New Stake in Zions Bancorporation, N.A. $ZION

BlackRock Inc. bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,196,331 shares of the bank’s stock, valued at approximately $982,244,000. BlackRock Inc. owned about 0.10% of Zions Bancorporation, N.A. as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock worth $430,813,000 after purchasing an additional 56,438 shares during the last quarter. LSV Asset Management raised its holdings 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 worth $227,607,000 after buying an additional 48,346 shares during the period. Morgan Stanley boosted its holdings in shares of 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 period. AQR Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 31.6% during 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 raised its holdings 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 period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Activity at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Scott A. Law sold 4,608 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, the executive vice president owned 32,890 shares of the company’s stock, valued at $2,381,893.80. This represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Scott J. Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction dated 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 sale, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. 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. 1.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price for the company. in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their price objective on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. TD Cowen upped their target price on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Wells Fargo & Company raised their price target on 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. Finally, DA Davidson lifted their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Stock Up 0.4%

NASDAQ ZION opened at $68.14 on Friday. 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. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The stock has a market capitalization of $9.95 billion, a PE ratio of 8.68, a PEG ratio of 1.61 and a beta of 0.81. The business has a fifty day moving average price of $69.71 and a two-hundred day moving average price of $63.67.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping 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 return on equity of 13.72% and a net margin of 23.92%.The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Equities analysts expect that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current fiscal year.

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

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 paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 13th. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s dividend payout ratio is currently 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.