Rhino Investment Partners Inc Makes New Investment in Zions Bancorporation, N.A. $ZION

Rhino Investment Partners Inc acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 114,645 shares of the bank’s stock, valued at approximately $6,606,000. Zions Bancorporation, N.A. accounts for approximately 1.8% of Rhino Investment Partners Inc’s portfolio, making the stock its 21st biggest holding. Rhino Investment Partners Inc owned approximately 0.08% of Zions Bancorporation, N.A. at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth about $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. purchased a new position in Zions Bancorporation, N.A. during the 4th quarter valued at about $36,000. V Square Quantitative Management LLC purchased a new position in Zions Bancorporation, N.A. during the 4th quarter valued at about $42,000. Finally, International Assets Investment Management LLC bought a new position in Zions Bancorporation, N.A. during the 4th quarter valued at approximately $49,000. 76.84% of the stock is owned by institutional investors.

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

In related news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZION. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. 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 note on Thursday, July 23rd. Cantor Fitzgerald upped their target price on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. lowered Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target for the company. in a research note on Tuesday, July 21st. Finally, Truist Financial lifted their price target on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a “hold” rating in a report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $69.52 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34. The firm has a 50-day moving average of $67.06 and a 200 day moving average of $62.32. The company has a market cap of $10.23 billion, a P/E ratio of 8.86, a PEG ratio of 1.64 and a beta of 0.80.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a stock repurchase plan on Saturday, May 2nd that permits the company to buyback $225.00 million in shares. This buyback authorization permits the bank to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 22.93%.

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.