Zions Bancorporation, N.A. $ZION Shares Sold by Burney Co.

Burney Co. cut its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 74.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,446 shares of the bank’s stock after selling 60,904 shares during the quarter. Burney Co.’s holdings in Zions Bancorporation, N.A. were worth $1,178,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Zions Bancorporation, N.A. by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,420,688 shares of the bank’s stock valued at $434,407,000 after purchasing an additional 77,612 shares during the last quarter. LSV Asset Management raised its position in shares of Zions Bancorporation, N.A. by 1.3% during the 4th 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 during the last quarter. Morgan Stanley lifted its stake in Zions Bancorporation, N.A. by 10.8% in the 4th 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 in the last quarter. AQR Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 31.6% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after buying an additional 30,881 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Down 2.9%

ZION stock opened at $68.64 on Thursday. The company has a 50 day moving average price of $64.60 and a two-hundred day moving average price of $61.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $10.10 billion, a P/E ratio of 10.67, a PEG ratio of 2.26 and a beta of 0.80. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $71.26.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the prior year, the company posted $1.13 EPS. As a group, sell-side analysts expect that Zions Bancorporation, N.A. will post 6.49 EPS for the current year.

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

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ZION shares. JPMorgan Chase & Co. raised their price target on Zions Bancorporation, N.A. from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Morgan Stanley upped their price objective on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Truist Financial increased their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Piper Sandler dropped their price objective on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zions Bancorporation, N.A. has a consensus rating of “Hold” and a consensus price target of $67.82.

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.