Infrastructure Capital Advisors LLC Makes New Investment in Zions Bancorporation, N.A. $ZION

Infrastructure Capital Advisors LLC purchased a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 1st quarter, HoldingsChannel reports. The fund purchased 34,089 shares of the bank’s stock, valued at approximately $1,964,000.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. raised its holdings in Zions Bancorporation, N.A. by 5.2% in the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after acquiring an additional 157 shares in the last quarter. Signaturefd LLC lifted its position in shares of Zions Bancorporation, N.A. by 17.1% during the 4th quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock worth $70,000 after purchasing an additional 174 shares during the last quarter. Michels Family Financial LLC increased its holdings in Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock valued at $711,000 after buying an additional 185 shares during the last quarter. C M Bidwell & Associates Ltd. increased its holdings in Zions Bancorporation, N.A. by 13.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock valued at $91,000 after buying an additional 185 shares during the last quarter. Finally, Alta Capital Management LLC raised its position in shares of Zions Bancorporation, N.A. by 0.7% during the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock worth $1,630,000 after acquiring an additional 203 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ZION shares. Truist Financial lifted their price target on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Morgan Stanley lifted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Stephens reduced their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. TD Cowen upped their price target on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $68.52 on Tuesday. The stock has a market cap of $10.08 billion, a P/E ratio of 8.73, a P/E/G ratio of 1.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $66.88 and its 200 day simple moving average is $62.26. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $73.34.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a stock repurchase plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $0.45 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 22.93%.

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.