Louisiana State Employees Retirement System Takes Position in Zions Bancorporation, N.A. $ZION

Louisiana State Employees Retirement System acquired a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,800 shares of the bank’s stock, valued at approximately $2,466,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at approximately $32,000. Leonteq Securities AG acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $32,000. Atlas Capital Advisors Inc. acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $36,000. Community Bank N.A. bought a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at $36,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter valued at $42,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Trading Up 0.5%

NASDAQ:ZION opened at $69.52 on Tuesday. The company has a 50-day moving average price of $63.56 and a 200-day moving average price of $60.73. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $69.84. 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 has a market cap of $10.23 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 2.22 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The firm had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the previous year, the firm posted $1.13 EPS. Equities analysts predict that Zions Bancorporation, N.A. will post 6.45 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. Shareholders of record on Thursday, May 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s payout ratio is presently 27.99%.

Zions Bancorporation, N.A. declared that its board has initiated a share repurchase program on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ZION shares. Royal Bank Of Canada lifted 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. Robert W. Baird reiterated a “neutral” rating and set a $68.00 price target on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. Stephens started coverage on Zions Bancorporation, N.A. in a research report on Monday, June 15th. They issued an “overweight” rating and a $79.00 price objective for the company. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Barclays raised their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 22nd. One equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.88.

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

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

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.