Prana Capital Management LP Has $811,000 Stake in Zions Bancorporation, N.A. $ZION

Prana Capital Management LP raised its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 199.0% in the third quarter, HoldingsChannel.com reports. The firm owned 14,330 shares of the bank’s stock after purchasing an additional 9,538 shares during the quarter. Prana Capital Management LP’s holdings in Zions Bancorporation, N.A. were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Thrivent Financial for Lutherans raised its position in shares of Zions Bancorporation, N.A. by 6.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock valued at $115,483,000 after buying an additional 122,815 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Zions Bancorporation, N.A. during the third quarter worth approximately $934,000. Bailard Inc. acquired a new stake in Zions Bancorporation, N.A. during the third quarter worth approximately $487,000. Gateway Investment Advisers LLC increased its stake in Zions Bancorporation, N.A. by 156.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock worth $4,857,000 after acquiring an additional 52,381 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Zions Bancorporation, N.A. by 39.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 89,763 shares of the bank’s stock valued at $5,079,000 after acquiring an additional 25,292 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Brean Capital started coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, March 12th. They set a “neutral” rating for the company. Jefferies Financial Group raised shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $60.00 in a research note on Wednesday, November 19th. JPMorgan Chase & Co. upped their target price on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Finally, Truist Financial raised their target price on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.58.

Insider Transactions at Zions Bancorporation, N.A.

In other news, EVP Steven Dan Stephens sold 15,476 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $65.90, for a total transaction of $1,019,868.40. Following the sale, the executive vice president directly owned 41,127 shares of the company’s stock, valued at approximately $2,710,269.30. This trade represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Scott J. Mclean sold 28,980 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $61.15, for a total value of $1,772,127.00. Following the sale, the president owned 82,250 shares in the company, valued at approximately $5,029,587.50. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,581 shares of company stock valued at $3,498,774. 1.77% of the stock is currently owned by corporate insiders.

Zions Bancorporation, N.A. Stock Up 0.9%

Shares of ZION opened at $54.02 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 0.86. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 9.00 and a beta of 0.83. The stock has a fifty day moving average of $59.57 and a 200-day moving average of $56.90.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were given a $0.45 dividend. The ex-dividend date was Thursday, February 12th. This represents a $1.80 annualized dividend and a yield of 3.3%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 30.00%.

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.