Principal Financial Group Inc. Grows Stock Holdings in Zions Bancorporation, N.A. $ZION

Principal Financial Group Inc. grew its position in Zions Bancorporation, N.A. (NASDAQ:ZION) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 329,515 shares of the bank’s stock after buying an additional 11,977 shares during the period. Principal Financial Group Inc.’s holdings in Zions Bancorporation, N.A. were worth $18,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZION. M&T Bank Corp purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $8,591,000. Basswood Capital Management L.L.C. increased its position in shares of Zions Bancorporation, N.A. by 266.4% during the fourth quarter. Basswood Capital Management L.L.C. now owns 404,520 shares of the bank’s stock worth $23,681,000 after purchasing an additional 294,121 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Zions Bancorporation, N.A. by 1.3% during the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after purchasing an additional 48,346 shares during the last quarter. Burney Co. purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $4,762,000. Finally, Qsemble Capital Management LP acquired a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth $3,353,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $70.07 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.83. The company’s fifty day moving average price is $66.34 and its 200-day moving average price is $62.07. 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 $10.31 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The company had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. During the same quarter last year, the business posted $1.13 EPS. On average, equities research analysts predict that Zions Bancorporation, N.A. will post 6.5 EPS for the current year.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a stock buyback program on Saturday, May 2nd that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 22.93%.

Analyst Upgrades and Downgrades

ZION has been the topic of several research analyst reports. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Barclays increased their price target on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. Morgan Stanley raised their price target on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. JPMorgan Chase & Co. lowered Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a research note on Tuesday. Finally, Royal Bank Of Canada upped their price objective on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a report on Tuesday. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.29.

More Zions Bancorporation, N.A. News

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Zions delivered better-than-expected Q2 results, with earnings and revenue both coming in above estimates, and management/call commentary pointed to resilient growth and solid core loan performance. Earnings Call Presentation
• Positive Sentiment: Several analysts raised price targets after the earnings release, including DA Davidson, RBC, Wells Fargo, and TD Cowen, signaling improved expectations for the stock. Analyst Rating Update
• Positive Sentiment: Independent write-ups highlighted Zions as a long-term value and momentum name, suggesting some investors still see an attractive valuation and fundamental setup. Zacks Value Stock Article
• Neutral Sentiment: Morningstar coverage of Zions Bancorp NA ZB1 did not add a clear new catalyst, so it appears more informational than market-moving. Morningstar Quote
• Negative Sentiment: The stock sold off after earnings because part of the profit increase came from non-core gains, including a Visa-related gain, while net interest margin was flat and deposits were seasonally lower than the prior quarter. Why Zions Stock Is Down Today
• Negative Sentiment: Heavy put-option activity and a JPMorgan downgrade to underweight suggest some traders are positioning defensively after the earnings release. Options and Analyst Reaction

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.