Man Group plc Acquires Shares of 202,467 Zions Bancorporation, N.A. $ZION

Man Group plc bought a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 202,467 shares of the bank’s stock, valued at approximately $14,009,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZION. BlackRock Inc. bought a new position in Zions Bancorporation, N.A. in the second quarter worth $982,244,000. Dimensional Fund Advisors LP grew its position in shares of Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock worth $430,813,000 after buying an additional 56,438 shares during the period. LSV Asset Management increased its stake in shares of Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after acquiring an additional 48,346 shares in the last quarter. Morgan Stanley increased its stake in shares of Zions Bancorporation, N.A. by 10.8% in the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after acquiring an additional 306,717 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after acquiring an additional 711,218 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Activity at Zions Bancorporation, N.A.

In other news, President Scott J. Mclean sold 33,285 shares of the firm’s stock in a transaction 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 transaction, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 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. Insiders have sold a total of 88,787 shares of company stock worth $6,283,858 over the last quarter. Company insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Trading Down 0.6%

Shares of NASDAQ:ZION opened at $67.91 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34. The company has a market cap of $9.91 billion, a P/E ratio of 8.65, a PEG ratio of 1.62 and a beta of 0.81. The stock’s fifty day moving average price is $69.84 and its 200-day moving average price is $63.80.

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

Zions Bancorporation, N.A. announced that its board has approved a stock buyback plan on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. 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. Zions Bancorporation, N.A.’s payout ratio is currently 24.46%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Evercore lowered shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price for the company. in a report on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. DA Davidson lifted their price target on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, July 21st. Six investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.29.

Zions Bancorporation, N.A. 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.