Evolve Private Wealth LLC Purchases New Position in Zions Bancorporation, N.A. $ZION

Evolve Private Wealth LLC purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,419 shares of the bank’s stock, valued at approximately $513,000.

Several other hedge funds also recently modified their holdings of ZION. Bessemer Group Inc. lifted its position in shares of Zions Bancorporation, N.A. by 5.2% during the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock worth $182,000 after purchasing an additional 157 shares in the last quarter. Michels Family Financial LLC increased its holdings in shares of Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock valued at $711,000 after purchasing an additional 185 shares in the last quarter. C M Bidwell & Associates Ltd. raised its position in Zions Bancorporation, N.A. by 13.5% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after purchasing an additional 185 shares during the last quarter. Alta Capital Management LLC lifted its holdings in Zions Bancorporation, N.A. by 0.7% during the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after buying an additional 203 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in Zions Bancorporation, N.A. by 4.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock worth $272,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Trading Down 0.4%

NASDAQ ZION opened at $67.87 on Tuesday. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The stock has a 50-day simple moving average of $69.74 and a 200 day simple moving average of $63.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.91 billion, a PE ratio of 8.65, a P/E/G ratio of 1.62 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 23.92% and a return on equity of 13.72%. Zions Bancorporation, N.A.’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. Research analysts forecast that Zions Bancorporation, N.A. will post 6.6 EPS for the current 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 given a dividend of $0.48 per share. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 13th. Zions Bancorporation, N.A.’s payout ratio is 24.46%.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald raised their price target on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Evercore lowered Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective for the company. in a research report on Thursday, July 23rd. DA Davidson boosted their price objective on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, TD Cowen upped their target price on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.29.

Insider Activity

In other Zions Bancorporation, N.A. news, EVP Scott A. Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction dated 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 directly owned 32,890 shares in the company, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Scott J. Mclean sold 33,285 shares of the business’s 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 completion of the transaction, the president directly owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 88,787 shares of company stock valued at $6,283,858 in the last quarter. Company 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.