Zions Bancorporation, N.A. $ZION Shares Sold by Prudential PLC

Prudential PLC cut its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 83.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,592 shares of the bank’s stock after selling 33,451 shares during the quarter. Prudential PLC’s holdings in Zions Bancorporation, N.A. were worth $386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Leonteq Securities AG acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Community Bank N.A. acquired a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at about $36,000. V Square Quantitative Management LLC acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $42,000. Finally, International Assets Investment Management LLC acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at about $49,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZION has been the topic of a number of research reports. DA Davidson increased their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Brean Capital initiated coverage on shares of Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They issued a “neutral” rating on the stock. Piper Sandler lowered their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Barclays increased their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.53.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION opened at $63.25 on Tuesday. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. 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 company’s 50-day moving average is $61.23 and its two-hundred day moving average is $59.29. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $66.18.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period in the prior year, the firm earned $1.13 EPS. Research analysts expect that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was 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 buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are 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.