Crossmark Global Holdings Inc. Lowers Position in Zions Bancorporation, N.A. $ZION

Crossmark Global Holdings Inc. decreased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 60.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,482 shares of the bank’s stock after selling 13,066 shares during the period. Crossmark Global Holdings Inc.’s holdings in Zions Bancorporation, N.A. were worth $497,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Zions Bancorporation, N.A. by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 7,343,076 shares of the bank’s stock valued at $415,474,000 after purchasing an additional 30,552 shares in the last quarter. AQR Capital Management LLC raised its position in Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after purchasing an additional 711,218 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Zions Bancorporation, N.A. by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock valued at $115,483,000 after purchasing an additional 122,815 shares in the last quarter. Wellington Management Group LLP raised its position in Zions Bancorporation, N.A. by 23.1% during the third quarter. Wellington Management Group LLP now owns 1,621,400 shares of the bank’s stock valued at $91,739,000 after purchasing an additional 303,783 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Zions Bancorporation, N.A. by 4.4% in the third quarter. Invesco Ltd. now owns 1,616,549 shares of the bank’s stock worth $91,464,000 after buying an additional 68,351 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZION. Citigroup lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Piper Sandler decreased their price objective on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Morgan Stanley decreased their price objective on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Barclays lifted their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, April 22nd. Finally, TD Cowen upped their target price on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.53.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $59.63 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a market cap of $8.77 billion, a PE ratio of 9.27, a P/E/G ratio of 1.99 and a beta of 0.83. Zions Bancorporation, N.A. has a 1-year low of $45.52 and a 1-year high of $66.18. The firm has a fifty day simple moving average of $59.05 and a two-hundred day simple moving average of $58.08.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same period in the prior year, the business posted $1.13 EPS. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a stock repurchase program on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Zions Bancorporation, N.A.

In related news, CEO Harris H. Simmons acquired 4,500 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average cost of $59.03 per share, for a total transaction of $265,635.00. Following the purchase, the chief executive officer directly owned 1,317,493 shares of the company’s stock, valued at approximately $77,771,611.79. This trade represents a 0.34% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The SEC filing for this sale provides additional information. Insiders sold a total of 7,038 shares of company stock valued at $439,948 over the last 90 days. 1.43% of the stock is currently owned by company insiders.

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.