14,596 Shares in Zions Bancorporation, N.A. $ZION Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the second quarter, Holdings Channel reports. The institutional investor bought 14,596 shares of the bank’s stock, valued at approximately $1,010,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ieq Capital LLC bought a new position in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $5,851,000. Burnham & Co LLC acquired a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $55,000. Callan Family Office LLC acquired a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $361,000. Keating Financial Advisory Services Inc. bought a new position in Zions Bancorporation, N.A. during the 2nd quarter worth $79,000. Finally, Allworth Financial LP bought a new position in Zions Bancorporation, N.A. during the 2nd quarter worth $206,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION stock opened at $68.14 on Monday. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34. The firm has a market capitalization of $9.95 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. The stock has a fifty day moving average of $69.71 and a two-hundred day moving average of $63.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.17. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period last year, the company earned $1.63 earnings per share. As a group, research analysts expect that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

Zions Bancorporation, N.A. announced that its board has approved a share repurchase program on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a dividend of $0.48 per share. This is a positive change from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. Zions Bancorporation, N.A.’s payout ratio is presently 24.46%.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the sale, the executive vice president owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 88,787 shares of company stock valued at $6,283,858. Company insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ZION. Weiss Ratings reiterated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. TD Cowen increased their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Morgan Stanley lifted their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. DA Davidson boosted their target price on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus target price of $71.29.

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.