iSAM Funds UK Ltd Acquires New Position in Zions Bancorporation, N.A. $ZION

iSAM Funds UK Ltd bought a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,300 shares of the bank’s stock, valued at approximately $989,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Wealth Partners LLC raised its holdings in Zions Bancorporation, N.A. by 528.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after acquiring an additional 349 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of Zions Bancorporation, N.A. in the second quarter valued at $35,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. acquired a new position in Zions Bancorporation, N.A. in the fourth quarter valued at $36,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Zions Bancorporation, N.A. in the second quarter valued at $45,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ZION shares. JPMorgan Chase & Co. downgraded Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price on the stock. in a research report on Tuesday, July 21st. Robert W. Baird upped their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Royal Bank Of Canada increased their price objective on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.29.

Insider Activity at Zions Bancorporation, N.A.

In related news, President Scott J. Mclean sold 33,285 shares of the stock in a transaction on 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 in the company, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott A. Law sold 4,608 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, the executive vice president directly owned 32,890 shares in the company, valued at $2,381,893.80. This trade represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In 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.

Zions Bancorporation, N.A. Trading Up 2.5%

Shares of ZION stock opened at $68.02 on Thursday. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The firm’s 50 day moving average price is $69.81 and its two-hundred day moving average price is $63.91.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $877.44 million. During the same quarter in the prior year, the business earned $1.63 earnings per share. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, analysts anticipate that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

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

Zions Bancorporation, N.A. declared 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 often a sign that the company’s board believes its stock is undervalued.

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.