Bank of New York Mellon Corp Has $76.89 Million Position in Zions Bancorporation, N.A. $ZION

Bank of New York Mellon Corp boosted its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,313,531 shares of the bank’s stock after buying an additional 36,392 shares during the period. Bank of New York Mellon Corp’s holdings in Zions Bancorporation, N.A. were worth $76,894,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of Zions Bancorporation, N.A. by 6.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,412,996 shares of the bank’s stock worth $82,717,000 after acquiring an additional 86,875 shares in the last quarter. AXQ Capital LP bought a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth $1,305,000. Easterly Investment Partners LLC grew its stake in shares of Zions Bancorporation, N.A. by 40.6% in the 4th quarter. Easterly Investment Partners LLC now owns 80,329 shares of the bank’s stock worth $4,702,000 after acquiring an additional 23,191 shares in the last quarter. Norges Bank bought a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth $105,700,000. Finally, Baker Avenue Asset Management LP grew its stake in shares of Zions Bancorporation, N.A. by 19.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 5,399 shares of the bank’s stock worth $316,000 after acquiring an additional 892 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada upped their target price on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. DA Davidson upped their target price on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Brean Capital initiated coverage on shares of Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Finally, Robert W. Baird increased their price target on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus price target of $65.53.

Insider Activity at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ:ZION opened at $64.83 on Wednesday. The firm has a market capitalization of $9.54 billion, a PE ratio of 10.08, a P/E/G ratio of 2.09 and a beta of 0.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $61.42 and a two-hundred day moving average price of $59.39. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $66.18.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period in the prior year, the company posted $1.13 EPS. Equities analysts forecast that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 27.99%.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a stock repurchase plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.