Quest Partners LLC Purchases New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Quest Partners LLC purchased a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,426 shares of the bank’s stock, valued at approximately $677,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Zions Bancorporation, National Association in the fourth quarter valued at approximately $67,694,000. Vaughan Nelson Investment Management L.P. lifted its stake in Zions Bancorporation, National Association by 119.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,311,291 shares of the bank’s stock valued at $101,396,000 after buying an additional 1,259,571 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Zions Bancorporation, National Association by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,016,407 shares of the bank’s stock valued at $220,077,000 after buying an additional 927,899 shares during the last quarter. iA Global Asset Management Inc. purchased a new stake in Zions Bancorporation, National Association in the third quarter valued at approximately $28,113,000. Finally, Artemis Investment Management LLP purchased a new stake in Zions Bancorporation, National Association in the fourth quarter valued at approximately $28,025,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Stock Performance

ZION opened at $43.79 on Thursday. The business’s 50-day moving average price is $42.16 and its two-hundred day moving average price is $40.78. Zions Bancorporation, National Association has a 1 year low of $26.35 and a 1 year high of $46.15. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 5.07 and a beta of 1.13. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.82 and a quick ratio of 0.82.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Friday, April 26th. The bank reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. During the same period last year, the firm earned $1.33 EPS. Equities analysts expect that Zions Bancorporation, National Association will post 4.37 EPS for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th will be given a dividend of $0.41 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.64 annualized dividend and a yield of 3.75%. Zions Bancorporation, National Association’s dividend payout ratio is currently 41.21%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price target on Zions Bancorporation, National Association from $32.00 to $40.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada upped their price target on Zions Bancorporation, National Association from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 23rd. Truist Financial restated a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation, National Association in a research note on Monday, April 1st. Jefferies Financial Group cut their price target on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. upped their price target on Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.33.

Insider Transactions at Zions Bancorporation, National Association

In related news, CEO Harris H. Simmons purchased 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Alan M. Forney sold 1,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $43.68, for a total transaction of $65,520.00. Following the transaction, the chief executive officer now owns 22,181 shares of the company’s stock, valued at approximately $968,866.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Harris H. Simmons purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the transaction, the chief executive officer now owns 1,312,987 shares in the company, valued at approximately $50,602,518.98. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 7,296 shares of company stock worth $319,192. Corporate insiders own 2.22% of the company’s stock.

Zions Bancorporation, National Association Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.