Y Intercept Hong Kong Ltd Takes $2.56 Million Position in Zions Bancorporation, N.A. $ZION

Y Intercept Hong Kong Ltd purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the first quarter, HoldingsChannel reports. The fund purchased 44,368 shares of the bank’s stock, valued at approximately $2,556,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. in the 4th quarter valued at $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. bought a new stake in shares of Zions Bancorporation, N.A. during the third quarter valued at approximately $36,000. Atlas Capital Advisors Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Buying and Selling at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on ZION. Robert W. Baird reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. Royal Bank Of Canada lifted their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 21st. Barclays upped their price target on 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. JPMorgan Chase & Co. raised their price target on Zions Bancorporation, N.A. from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Brean Capital initiated coverage on Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They issued a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Zions Bancorporation, N.A. has a consensus rating of “Hold” and a consensus price target of $67.82.

Zions Bancorporation, N.A. Stock Up 0.1%

NASDAQ:ZION opened at $70.69 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $71.26. The stock’s fifty day simple moving average is $64.48 and its 200-day simple moving average is $61.18. The firm has a market capitalization of $10.40 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.26 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Equities research analysts expect that Zions Bancorporation, N.A. will post 6.48 earnings per share for the current year.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a share repurchase program on Saturday, May 2nd that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Zions Bancorporation, N.A. Company 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.