Sequoia Financial Advisors LLC Buys 9,848 Shares of Zions Bancorporation, N.A. $ZION

Sequoia Financial Advisors LLC grew its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,262 shares of the bank’s stock after acquiring an additional 9,848 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.07% of Zions Bancorporation, N.A. worth $6,868,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ZION. Elevation Wealth Partners LLC boosted its position in Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after purchasing an additional 349 shares in the last quarter. Leonteq Securities AG bought a new position in Zions Bancorporation, N.A. in the fourth quarter worth about $32,000. Trust Co. of Vermont bought a new position in Zions Bancorporation, N.A. in the second quarter worth about $35,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at about $45,000. 76.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZION. Robert W. Baird lifted their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. TD Cowen increased their target price on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Stephens lowered their target price on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Morgan Stanley reaffirmed an “underweight” rating and issued a $77.00 price target on shares of Zions Bancorporation, N.A. in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a research report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.29.

Insiders Place Their Bets

In related news, President Scott J. Mclean sold 33,285 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the transaction, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were 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 directly owned 17,449 shares in the company, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 88,787 shares of company stock valued at $6,283,858. Insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock opened at $68.75 on Friday. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.15 and a beta of 0.78. The stock’s 50-day simple moving average is $69.71 and its 200-day simple moving average is $64.25.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.57 by $0.17. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. Zions Bancorporation, N.A.’s revenue was up 35.7% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. As a group, equities analysts forecast that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a $0.48 dividend. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

Zions Bancorporation, N.A. announced that its board has approved a stock repurchase program on Thursday, July 30th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 0.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides a broad range of banking and related financial services to individuals, small and midsize businesses, commercial clients, and public-sector organizations.

The company’s services include commercial and consumer lending, deposits, home loans, cash management, treasury services, wealth management, investment services, and capital markets activities.