Hsbc Holdings PLC Increases Stake in Zions Bancorporation, N.A. $ZION

Hsbc Holdings PLC increased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 41.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,595 shares of the bank’s stock after purchasing an additional 15,805 shares during the period. Hsbc Holdings PLC’s holdings in Zions Bancorporation, N.A. were worth $3,088,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, N.A. by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,420,688 shares of the bank’s stock valued at $434,407,000 after buying an additional 77,612 shares during the period. LSV Asset Management lifted its stake 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 worth $227,607,000 after acquiring an additional 48,346 shares during the last quarter. Morgan Stanley lifted its stake in shares of Zions Bancorporation, N.A. by 10.8% during 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 during the last quarter. AQR Capital Management LLC boosted its holdings in Zions Bancorporation, N.A. by 31.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after acquiring an additional 711,218 shares during the period. Finally, Geode Capital Management LLC grew its position in Zions Bancorporation, N.A. by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after acquiring an additional 30,881 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ZION. Royal Bank Of Canada increased their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Wells Fargo & Company upped their price target on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Robert W. Baird raised their price target on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Stephens lowered their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Finally, DA Davidson upped their target price on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Zions Bancorporation, N.A. presently has an average rating of “Hold” and an average target price of $71.29.

Zions Bancorporation, N.A. Stock Up 0.2%

Shares of Zions Bancorporation, N.A. stock opened at $69.29 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 1.66 and a beta of 0.80. The firm’s 50-day moving average is $66.71 and its two-hundred day moving average is $62.19. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. The ex-dividend date 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 (DPR) is currently 22.93%.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share repurchase plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Key Zions Bancorporation, N.A. News

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

• Positive Sentiment: Robert W. Baird raised its price target on Zions Bancorporation, N.A. (ZION) to $75, signaling room for further upside. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
• Positive Sentiment: Wells Fargo, RBC, TD Cowen, and DA Davidson all issued bullish notes or strong appreciation forecasts for Zions Bancorporation, N.A. (ZION), reinforcing expectations for further share gains. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says TD Cowen Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock DA Davidson Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock
• Neutral Sentiment: Shares also saw unusually heavy options activity, suggesting traders are positioning for a larger move but without clear direction. Zions Bancorporation, N.A. Target of Unusually Large Options Trading (NASDAQ:ZION)
• Negative Sentiment: Evercore downgraded Zions Bancorporation, N.A. (ZION) from outperform to in-line and set a $68 target, implying modest downside from recent levels. Read More
• Negative Sentiment: Another report said ZION shares were gapping down on the analyst downgrade, highlighting that the downgrade is the main bearish catalyst weighing on sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Shares Gap Down on Analyst Downgrade
• Negative Sentiment: Stephens also lowered expectations for Zions Bancorporation, N.A. (ZION), adding to the pressure from the Evercore downgrade. Stephens Has Lowered Expectations for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Insider Transactions at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.43% of the stock is currently owned by insiders.

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.