Wedge Capital Management L L P NC Trims Stake in Zions Bancorporation, N.A. $ZION

Wedge Capital Management L L P NC reduced its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 669,580 shares of the bank’s stock after selling 36,094 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Zions Bancorporation, N.A. were worth $37,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Traub Capital Management LLC purchased a new stake in Zions Bancorporation, N.A. in the second quarter worth about $31,000. Assetmark Inc. grew its stake in shares of Zions Bancorporation, N.A. by 75.3% during the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock valued at $35,000 after acquiring an additional 289 shares during the period. Steph & Co. purchased a new stake in Zions Bancorporation, N.A. in the 3rd quarter worth approximately $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Zions Bancorporation, N.A. during the 1st quarter worth approximately $52,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Zions Bancorporation, N.A. in the second quarter worth approximately $62,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Up 0.6%

Shares of ZION opened at $59.94 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $60.41. The business’s 50 day simple moving average is $53.53 and its 200-day simple moving average is $54.06.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, June 12th. The bank reported $1.32 earnings per share for the quarter. Zions Bancorporation, N.A. had a net margin of 17.22% and a return on equity of 13.56%. The firm had revenue of $705.00 million during the quarter. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, November 13th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 32.26%.

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

In other news, EVP Jennifer Anne Smith sold 2,458 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $53.11, for a total value of $130,544.38. Following the sale, the executive vice president directly owned 27,133 shares in the company, valued at $1,441,033.63. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ZION. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and lifted their target price for the company from $55.00 to $60.00 in a research note on Wednesday, November 19th. TD Cowen assumed coverage on Zions Bancorporation, N.A. in a research report on Thursday, September 25th. They set a “hold” rating and a $64.00 target price for the company. Morgan Stanley boosted their price target on Zions Bancorporation, N.A. from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Piper Sandler dropped their target price on shares of Zions Bancorporation, N.A. from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.35.

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.