Vise Technologies Inc. Buys 9,241 Shares of Zions Bancorporation, N.A. $ZION

Vise Technologies Inc. grew its stake in Zions Bancorporation, N.A. (NASDAQ:ZION) by 76.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,368 shares of the bank’s stock after purchasing an additional 9,241 shares during the quarter. Vise Technologies Inc.’s holdings in Zions Bancorporation, N.A. were worth $1,339,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ZION. Pension & Wealth Management Advisors Inc. bought a new stake in Zions Bancorporation, N.A. during the third quarter worth $27,000. Elevation Wealth Partners LLC raised its position in Zions Bancorporation, N.A. by 528.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after buying an additional 349 shares during the last quarter. Trust Co. of Vermont bought a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at $35,000. Northwestern Mutual Wealth Management Co. bought a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at $45,000. Finally, Burnham & Co LLC bought a new position in Zions Bancorporation, N.A. during the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ZION shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Thursday, October 29th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $76.00 target price on shares of Zions Bancorporation, N.A. in a report on Tuesday, October 20th. UBS Group initiated coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, September 14th. They set a “buy” rating and a $78.00 price target on the stock. Evercore cut shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target on the stock. in a report on Thursday, July 23rd. Finally, Piper Sandler boosted their price target on shares of Zions Bancorporation, N.A. from $68.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.44.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $64.76 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.07 and a beta of 0.85. The stock has a 50 day moving average of $65.13 and a 200 day moving average of $63.96. Zions Bancorporation, N.A. has a 12 month low of $48.50 and a 12 month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, October 19th. The bank reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. Zions Bancorporation, N.A. had a return on equity of 13.77% and a net margin of 24.81%. The business had revenue of $887.00 million for the quarter, compared to analyst estimates of $889.52 million. During the same period last year, the company posted $1.48 earnings per share. As a group, sell-side analysts forecast that Zions Bancorporation, N.A. will post 6.70 earnings per share for the current year.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 12th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, November 12th. Zions Bancorporation, N.A.’s dividend payout ratio is 23.56%.

Zions Bancorporation, N.A. announced that its board has approved a share buyback program on Thursday, July 30th that allows the company to buy back $75 million in shares. This buyback authorization allows the bank to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a national bank providing commercial and retail banking services to individuals, businesses, and institutions. Its offerings include business and consumer lending, deposit accounts, treasury management, and related banking services.

The bank serves customers across 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through regional banking brands, including Zions Bank, Amegy Bank, California Bank & Trust, and National Bank of Arizona.

The institution traces its history to 1873, when Zion’s Savings Bank and Trust Company was established in Salt Lake City.