Soltis Investment Advisors LLC Sells 11,156 Shares of Zions Bancorporation, N.A. $ZION

Soltis Investment Advisors LLC trimmed its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 30.5% in the fourth quarter, Holdings Channel reports. The fund owned 25,370 shares of the bank’s stock after selling 11,156 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Zions Bancorporation, N.A. were worth $1,485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ZION. AQR Capital Management LLC increased its holdings in Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after purchasing an additional 711,218 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Zions Bancorporation, N.A. in the second quarter valued at $32,008,000. Balyasny Asset Management L.P. acquired a new stake in Zions Bancorporation, N.A. in the second quarter valued at $31,224,000. Mackenzie Financial Corp increased its holdings in Zions Bancorporation, N.A. by 2,982.2% in the third quarter. Mackenzie Financial Corp now owns 489,478 shares of the bank’s stock valued at $27,695,000 after purchasing an additional 473,597 shares during the period. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at $24,271,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ZION shares. Truist Financial increased their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Brean Capital started coverage on Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a “neutral” rating for the company. Piper Sandler decreased their price objective on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Finally, Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.53.

Zions Bancorporation, N.A. Stock Performance

Shares of Zions Bancorporation, N.A. stock opened at $59.63 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $59.05 and a two-hundred day moving average price of $58.11. Zions Bancorporation, N.A. has a 1-year low of $45.52 and a 1-year high of $66.18. The company has a market cap of $8.77 billion, a P/E ratio of 9.27, a PEG ratio of 1.97 and a beta of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The firm had revenue of $859.00 million during the quarter, compared to the consensus estimate of $853.73 million. During the same period last year, the business posted $1.13 EPS. As a group, analysts anticipate that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Zions Bancorporation, N.A. declared that its board has initiated a share repurchase plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Harris H. Simmons bought 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the acquisition, the chief executive officer owned 1,317,493 shares in the company, valued at $77,771,611.79. This represents a 0.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 7,038 shares of company stock worth $439,948 in the last three months. Insiders own 1.43% of the company’s stock.

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.