VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Zions Bancorporation, N.A. $ZION

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 71,300 shares of the bank’s stock, valued at approximately $4,933,000.

A number of other large investors also recently modified their holdings of the stock. Bessemer Group Inc. grew its holdings in 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 buying an additional 157 shares in the last quarter. Michels Family Financial LLC boosted its holdings in Zions Bancorporation, N.A. by 1.5% during the 4th quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after acquiring an additional 185 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its holdings in Zions Bancorporation, N.A. by 13.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after acquiring an additional 185 shares during the last quarter. Alta Capital Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 0.7% in the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after acquiring an additional 203 shares in the last quarter. Finally, Modern Wealth Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 4.7% in the 1st quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock worth $272,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $68.37 on Wednesday. The firm has a market cap of $9.98 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $69.80 and its 200-day moving average is $64.13. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $877.44 million. During the same period last year, the firm earned $1.63 EPS. Zions Bancorporation, N.A.’s revenue for the quarter was up 35.7% on a year-over-year basis. Sell-side analysts predict that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

Zions Bancorporation, N.A. declared that its board has approved a share repurchase plan on Thursday, July 30th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This is an increase 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%. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

Insider Activity

In other news, President Scott Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, August 4th. The stock was 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 in the company, valued at approximately $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Law sold 4,608 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the sale, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 88,787 shares of company stock worth $6,283,858. 1.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and set a $77.00 price target on shares of Zions Bancorporation, N.A. in a report on Tuesday. Royal Bank Of Canada upped their target price on 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. Wells Fargo & Company boosted their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price on the stock. in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.29.

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.