Capstone Investment Advisors LLC Takes Position in Zions Bancorporation, N.A. $ZION

Capstone Investment Advisors LLC purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,968 shares of the bank’s stock, valued at approximately $759,000.

Other large investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its holdings in shares of Zions Bancorporation, N.A. by 528.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after purchasing an additional 349 shares in the last quarter. Torren Management LLC acquired a new position in Zions Bancorporation, N.A. in the fourth quarter valued at about $32,000. Leonteq Securities AG acquired a new position in Zions Bancorporation, N.A. in the fourth quarter valued at about $32,000. Trust Co. of Vermont bought a new stake in Zions Bancorporation, N.A. during the second quarter worth about $35,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Zions Bancorporation, N.A. during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. TD Cowen upped their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. 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 research note on Tuesday, July 21st. Finally, Truist Financial boosted their price objective on shares of 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 issued a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $67.78 on Friday. The company has a 50 day simple moving average of $69.87 and a 200 day simple moving average of $63.83. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 1.61 and a beta of 0.81. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34. 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. (NASDAQ:ZION) last issued its 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter last year, the business posted $1.63 earnings per share. Research analysts anticipate that Zions Bancorporation, N.A. will post 6.6 EPS for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

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

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

Insiders Place Their Bets

In other news, EVP Derek Steward sold 894 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the sale, the executive vice president directly owned 17,449 shares in the company, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 of the company’s stock, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 88,787 shares of company stock valued at $6,283,858 in the last 90 days. Corporate insiders own 1.43% of the company’s stock.

About Zions Bancorporation, N.A.

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.