Principal Financial Group Inc. Acquires 11,977 Shares of Zions Bancorporation, N.A. $ZION

Principal Financial Group Inc. grew its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 329,515 shares of the bank’s stock after purchasing an additional 11,977 shares during the period. Principal Financial Group Inc. owned about 0.22% of Zions Bancorporation, N.A. worth $18,987,000 as of its most recent filing with the Securities & Exchange Commission.

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

Zions Bancorporation, N.A. Stock Up 1.5%

Shares of Zions Bancorporation, N.A. stock opened at $70.07 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.65 and a beta of 0.80. The firm’s 50-day moving average is $66.34 and its two-hundred day moving average is $62.07. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The business had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the previous year, the business posted $1.13 EPS. As a group, research analysts expect that Zions Bancorporation, N.A. will post 6.5 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

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

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share repurchase program on Saturday, May 2nd that authorizes the company to buyback $225.00 million in 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 a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZION. Citigroup upped their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. DA Davidson lifted their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Cantor Fitzgerald increased their price objective on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their price objective on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. presently has an average rating of “Hold” and a consensus price target of $71.29.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction 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 Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by corporate insiders.

Trending Headlines about Zions Bancorporation, N.A.

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Zions delivered better-than-expected Q2 results, with earnings and revenue both coming in above estimates, and management/call commentary pointed to resilient growth and solid core loan performance. Earnings Call Presentation
• Positive Sentiment: Several analysts raised price targets after the earnings release, including DA Davidson, RBC, Wells Fargo, and TD Cowen, signaling improved expectations for the stock. Analyst Rating Update
• Positive Sentiment: Independent write-ups highlighted Zions as a long-term value and momentum name, suggesting some investors still see an attractive valuation and fundamental setup. Zacks Value Stock Article
• Neutral Sentiment: Morningstar coverage of Zions Bancorp NA ZB1 did not add a clear new catalyst, so it appears more informational than market-moving. Morningstar Quote
• Negative Sentiment: The stock sold off after earnings because part of the profit increase came from non-core gains, including a Visa-related gain, while net interest margin was flat and deposits were seasonally lower than the prior quarter. Why Zions Stock Is Down Today
• Negative Sentiment: Heavy put-option activity and a JPMorgan downgrade to underweight suggest some traders are positioning defensively after the earnings release. Options and Analyst Reaction

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.