84,565 Shares in Zions Bancorporation, N.A. $ZION Acquired by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 84,565 shares of the bank’s stock, valued at approximately $5,851,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its position in Zions Bancorporation, N.A. by 528.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after purchasing an additional 349 shares during the period. Torren Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $32,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $32,000. Trust Co. of Vermont bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $35,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $36,000. 76.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZION has been the subject of several recent research reports. Stephens reduced their price target on 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. Weiss Ratings restated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. Truist Financial raised their price objective 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. Cantor Fitzgerald lifted their target price on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley boosted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of “Hold” and a consensus target price of $71.29.

Insider Activity at Zions Bancorporation, N.A.

In related news, EVP Derek Steward sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the sale, the executive vice president owned 17,449 shares in the company, valued at $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Scott J. Mclean sold 33,285 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the transaction, the president owned 73,043 shares in the company, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,787 shares of company stock worth $6,283,858 over the last quarter. Insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock opened at $68.14 on Monday. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.62 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. The business has a fifty day moving average of $69.71 and a 200 day moving average of $63.68. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.17. The business had revenue of $1.14 billion for 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 company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. As a group, research analysts expect that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 24.46%.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.