Zions Bancorporation, N.A. $ZION Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 807,539 shares of the bank’s stock after selling 10,033 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.55% of Zions Bancorporation, N.A. worth $46,530,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its position in Zions Bancorporation, N.A. by 5.2% during the first quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after purchasing an additional 157 shares during the period. Signaturefd LLC grew its position in 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 period. C M Bidwell & Associates Ltd. grew its position in Zions Bancorporation, N.A. by 13.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after purchasing an additional 185 shares during the period. Michels Family Financial LLC raised its stake in shares of Zions Bancorporation, N.A. by 1.5% during the 4th 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. Finally, Alta Capital Management LLC raised its stake 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 valued at $1,630,000 after buying an additional 203 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

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

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Derek Steward sold 894 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the transaction, the executive vice president directly owned 17,449 shares in the company, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 5,653 shares of company stock valued at $359,958. 1.43% of the stock is owned by insiders.

Zions Bancorporation, N.A. Stock Up 0.8%

Shares of ZION opened at $69.46 on Friday. The firm has a market cap of $10.22 billion, a P/E ratio of 8.85, a PEG ratio of 1.64 and a beta of 0.80. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The stock’s 50 day moving average is $67.36 and its two-hundred day moving average is $62.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26.

Zions Bancorporation, N.A. announced that its board has initiated a stock buyback program on Saturday, May 2nd that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s dividend payout ratio is 22.93%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird upped their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Wells Fargo & Company lifted their price target on 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. TD Cowen boosted their price target on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Morgan Stanley upped their price objective on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Truist Financial raised their price objective 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. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.29.

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.