Canada Pension Plan Investment Board Takes Position in Zions Bancorporation, N.A. $ZION

Canada Pension Plan Investment Board bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the second quarter, Holdings Channel reports. The institutional investor bought 188,900 shares of the bank’s stock, valued at approximately $13,070,000.

A number of other large investors have also modified their holdings of the company. Elevation Wealth Partners LLC boosted its stake 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 worth $29,000 after buying an additional 349 shares in the last quarter. Torren Management LLC bought a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at $32,000. Leonteq Securities AG acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at $32,000. Trust Co. of Vermont acquired a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at $35,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $36,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ZION shares. Royal Bank Of Canada lifted their target price on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Morgan Stanley increased their price target 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. JPMorgan Chase & Co. cut shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target for the company. in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. Finally, Wells Fargo & Company increased their target price on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.29.

Insider Buying and Selling

In related news, EVP Derek Steward sold 894 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the transaction, the executive vice president owned 17,449 shares in the company, valued at $1,215,322.85. This represents a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $333,711.36. Following the completion of the sale, the executive vice president owned 32,890 shares of the company’s stock, valued at $2,381,893.80. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,787 shares of company stock worth $6,283,858 in the last 90 days. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Stock Down 0.2%

NASDAQ ZION opened at $67.78 on Friday. The firm has a market cap of $9.89 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. The stock’s 50 day simple moving average is $69.87 and its 200 day simple moving average is $63.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings data on Monday, July 20th. The bank reported $1.74 earnings per share (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 the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS. As a group, sell-side 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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a $0.48 dividend. This is a positive change 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 (DPR) is presently 24.46%.

Zions Bancorporation, N.A. announced that its board has approved a stock buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.