Global Retirement Partners LLC Invests $880,000 in Zions Bancorporation, N.A. $ZION

Global Retirement Partners LLC bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) during the second quarter, HoldingsChannel reports. The institutional investor bought 12,726 shares of the bank’s stock, valued at approximately $880,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZION. Bessemer Group Inc. increased its stake in Zions Bancorporation, N.A. by 5.2% during the 1st quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock worth $182,000 after buying an additional 157 shares during the period. Michels Family Financial LLC raised its holdings in Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock valued at $711,000 after acquiring an additional 185 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its stake in Zions Bancorporation, N.A. by 13.5% in the fourth 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 lifted its stake in Zions Bancorporation, N.A. by 0.7% in the fourth 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 during the last quarter. Finally, Modern Wealth Management LLC grew its holdings in Zions Bancorporation, N.A. by 4.7% during 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. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stephens reduced their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Morgan Stanley raised their price target on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Wall Street Zen upgraded Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada upped their price target 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. Finally, Citigroup increased their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.29.

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

In related news, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of the sale, the executive vice president owned 17,449 shares in the company, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott A. Law sold 4,608 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In 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.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $70.93 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The firm has a 50-day simple moving average of $69.61 and a 200-day simple moving average of $63.52. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 1.72 and a beta of 0.81.

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

Zions Bancorporation, N.A. Increases Dividend

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

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 outstanding shares. This repurchase authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

About Zions Bancorporation, N.A.

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.