Los Angeles Capital Management LLC Sells 118,724 Shares of Zions Bancorporation, N.A. $ZION

Los Angeles Capital Management LLC cut its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 39.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,746 shares of the bank’s stock after selling 118,724 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Zions Bancorporation, N.A. were worth $10,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Signaturefd LLC raised its holdings in Zions Bancorporation, N.A. by 17.1% during the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock valued at $70,000 after acquiring an additional 174 shares during the period. Alta Capital Management LLC raised its holdings in Zions Bancorporation, N.A. by 0.7% during the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock valued at $1,630,000 after acquiring an additional 203 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Zions Bancorporation, N.A. by 3.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank’s stock valued at $462,000 after acquiring an additional 240 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Zions Bancorporation, N.A. by 1.2% during the third quarter. Crossmark Global Holdings Inc. now owns 21,548 shares of the bank’s stock valued at $1,219,000 after acquiring an additional 247 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Zions Bancorporation, N.A. by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 48,719 shares of the bank’s stock valued at $2,757,000 after acquiring an additional 280 shares during the period. 76.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ZION. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Royal Bank Of Canada raised their price target on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st. DA Davidson lifted their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Truist Financial lifted their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Finally, Piper Sandler reduced their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.53.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, May 8th. The stock was 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 is available at this link. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Trading Up 0.0%

Shares of ZION stock opened at $63.25 on Tuesday. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $66.18. 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 stock’s 50-day moving average price is $61.23 and its 200-day moving average price is $59.29. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The firm had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. During the same period in the previous year, the firm posted $1.13 earnings per share. Equities research analysts predict that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

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

Zions Bancorporation, N.A. declared that its board has approved a stock buyback program on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management 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.