EP Wealth Advisors LLC Buys New Stake in Zions Bancorporation, N.A. $ZION

EP Wealth Advisors LLC purchased a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,596 shares of the bank’s stock, valued at approximately $1,010,000.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Zions Bancorporation, N.A. by 76.3% in the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after buying an additional 59,483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Zions Bancorporation, N.A. by 18.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock valued at $2,042,000 after buying an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Zions Bancorporation, N.A. by 0.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after acquiring an additional 2,659 shares during the period. Focus Partners Wealth grew its position in Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Zions Bancorporation, N.A. by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock valued at $94,000 after purchasing an additional 625 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $68.14 on Monday. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $9.95 billion, a PE ratio of 8.68, a P/E/G ratio of 1.62 and a beta of 0.81. The firm’s fifty day moving average price is $69.71 and its 200 day moving average price is $63.68.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, July 20th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.17. The company 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%. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. As a group, research analysts expect that Zions Bancorporation, N.A. will post 6.6 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

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

Insider Buying and Selling

In related news, President Scott J. Mclean sold 33,285 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares of the company’s stock, valued at $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the transaction, the executive vice president owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 88,787 shares of company stock worth $6,283,858. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZION. JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price for the company. in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Robert W. Baird boosted 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 report on Tuesday, July 21st. Wells Fargo & Company upped their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley raised their target price on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and an average price target of $71.29.

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.