8,332 Shares of Zions Bancorporation, N.A. $ZION Bought by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the third quarter, Holdings Channel.com reports. The fund acquired 8,332 shares of the bank’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Zions Bancorporation, N.A. in the 2nd quarter valued at $982,244,000. Bank of New York Mellon Corp purchased a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter worth $87,961,000. Deutsche Bank AG acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $71,767,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $54,688,000. Finally, Azora Capital LP acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth about $52,233,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Robert W. Baird upgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Thursday. UBS Group started coverage on shares of Zions Bancorporation, N.A. in a research note on Monday, September 14th. They set a “buy” rating and a $78.00 target price for the company. Evercore cut shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a research report on Thursday, July 23rd. Stephens reduced their price target on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, Truist Financial reduced their price target on shares of Zions Bancorporation, N.A. from $72.00 to $67.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. has a consensus rating of “Hold” and an average target price of $71.59.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Scott A. Law sold 4,608 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total value of $333,711.36. Following the completion of the transaction, the executive vice president owned 32,890 shares of the company’s stock, valued at $2,381,893.80. This trade represents a 12.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Scott J. Mclean sold 33,285 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the transaction, the president owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. This trade represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 88,787 shares of company stock worth $6,283,858 in the last ninety days. 1.43% of the stock is owned by corporate insiders.

Zions Bancorporation, N.A. Stock Performance

NASDAQ ZION opened at $63.37 on Friday. The company has a market cap of $9.25 billion, a P/E ratio of 8.07, a P/E/G ratio of 1.04 and a beta of 0.84. 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 has a 50-day moving average of $66.37 and a two-hundred day moving average of $65.53. Zions Bancorporation, N.A. has a 1-year low of $47.77 and a 1-year high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping 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 net margin of 23.92% and a return on equity of 13.72%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. As a group, analysts anticipate that Zions Bancorporation, N.A. will post 6.60 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, August 13th. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s payout ratio is currently 24.46%.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 30th that authorizes the company to buy back $75.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 0.7% of its shares through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a regional financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides banking and financial services to individuals, small businesses, middle-market companies, and institutional clients.

Its offerings include commercial and consumer lending, checking and savings accounts, treasury management, mortgage services, private banking, wealth management, and capital markets services. Zions operates through locally recognized brands including Zions Bank, Amegy Bank, California Bank & Trust, Nevada State Bank, and Vectra Bank Colorado.

Founded in 1873, Zions has expanded its presence across the western United States, serving customers in markets that include Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Wyoming.