OVERSEA CHINESE BANKING Corp Ltd Invests $965,000 in Zions Bancorporation, N.A. $ZION

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,945 shares of the bank’s stock, valued at approximately $965,000.

A number of other large investors also recently modified their holdings of the company. Elevation Wealth Partners LLC raised its stake in shares of Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after acquiring an additional 349 shares in the last quarter. Torren Management LLC purchased a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $32,000. Trust Co. of Vermont purchased a new stake in Zions Bancorporation, N.A. during the 2nd quarter valued at $35,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth about $36,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. 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 directly owned 17,449 shares in the company, valued at approximately $1,215,322.85. The trade was a 4.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Scott J. Mclean sold 33,285 shares of Zions Bancorporation, N.A. stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 88,787 shares of company stock valued at $6,283,858. Corporate insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ZION. Weiss Ratings reiterated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. Royal Bank Of Canada raised their price objective on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Morgan Stanley upped their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Stephens dropped their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Finally, Robert W. Baird lifted 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. Six equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Trading Up 0.4%

Shares of NASDAQ:ZION opened at $68.14 on Friday. The stock has a 50 day moving average of $69.71 and a 200 day moving average of $63.67. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.95 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings data on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.57 by $0.17. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company’s revenue was up 35.7% on a year-over-year basis. During the same period last year, the firm earned $1.63 EPS. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

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

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a dividend of $0.48 per share. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. Zions Bancorporation, N.A.’s payout ratio is 24.46%.

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.