Harbor Investment Advisory LLC Decreases Stock Holdings in Zions Bancorporation, N.A. $ZION

Harbor Investment Advisory LLC cut its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 96.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,194 shares of the bank’s stock after selling 60,734 shares during the period. Harbor Investment Advisory LLC’s holdings in Zions Bancorporation, N.A. were worth $124,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ZION. Nordea Investment Management AB increased its stake in Zions Bancorporation, N.A. by 15.0% in the 2nd quarter. Nordea Investment Management AB now owns 256,710 shares of the bank’s stock valued at $13,349,000 after purchasing an additional 33,449 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Zions Bancorporation, N.A. in the second quarter valued at $814,000. LSV Asset Management raised its stake in shares of Zions Bancorporation, N.A. by 4.5% during the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock worth $205,689,000 after buying an additional 169,085 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Zions Bancorporation, N.A. in the 2nd quarter worth about $452,000. Finally, Gateway Investment Advisers LLC grew its stake in Zions Bancorporation, N.A. by 156.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock valued at $4,857,000 after acquiring an additional 52,381 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Bank of America raised Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $59.00 to $62.00 in a report on Thursday, October 23rd. Weiss Ratings lowered Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and boosted their target price for the company from $55.00 to $60.00 in a research note on Wednesday, November 19th. Finally, Zacks Research lowered shares of Zions Bancorporation, N.A. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.16.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $53.11, for a total transaction of $130,544.38. Following the completion of the sale, the executive vice president directly owned 27,133 shares in the company, valued at $1,441,033.63. This represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.22% of the stock is owned by corporate insiders.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $58.79 on Thursday. The business’s 50-day moving average price is $56.21 and its 200 day moving average price is $55.39. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. Zions Bancorporation, N.A. has a twelve month low of $39.32 and a twelve month high of $61.57. The company has a market capitalization of $8.68 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.26 and a beta of 0.85.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 20th. The bank reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.29. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. The company had revenue of $872.00 million during the quarter, compared to the consensus estimate of $842.68 million. During the same quarter in the prior year, the company posted $1.37 EPS. On average, research analysts predict that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Thursday, November 13th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 32.26%.

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.