Perigon Wealth Management LLC Purchases Shares of 25,118 Zions Bancorporation, N.A. $ZION

Perigon Wealth Management LLC purchased a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 25,118 shares of the bank’s stock, valued at approximately $1,738,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in Zions Bancorporation, N.A. by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after purchasing an additional 56,438 shares in the last quarter. LSV Asset Management grew its stake in Zions Bancorporation, N.A. by 1.3% in the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after purchasing an additional 48,346 shares in the last quarter. Morgan Stanley increased its stake in shares of Zions Bancorporation, N.A. by 10.8% during the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after buying an additional 306,717 shares during the period. AQR Capital Management LLC increased its holdings 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 buying an additional 711,218 shares during the period. Finally, Geode Capital Management LLC grew its stake in Zions Bancorporation, N.A. by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after purchasing an additional 30,881 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.

Insider Activity

In other news, President Scott J. Mclean sold 33,285 shares of the stock in a transaction on Tuesday, August 4th. The stock was 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 directly owned 73,043 shares in the company, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the sale, the executive vice president owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 88,787 shares of company stock valued at $6,283,858 in the last quarter. Insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ZION shares. Citigroup upped their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Robert W. Baird lifted their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price on the stock. in a research report on Thursday, July 23rd. Finally, Barclays lifted their price target on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Zions Bancorporation, N.A. presently has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock opened at $71.58 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50-day moving average is $69.49 and its two-hundred day moving average is $63.43. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The company has a market capitalization of $10.45 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.72 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $877.44 million. During the same quarter last year, the firm earned $1.63 EPS. The business’s revenue was up 35.7% compared to the same quarter last year. 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 initiated a stock buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be paid a $0.48 dividend. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 24.46%.

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.