Convergence Investment Partners LLC Invests $1.71 Million in Zions Bancorporation, National Association (NASDAQ:ZION)

Convergence Investment Partners LLC purchased a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,527 shares of the bank’s stock, valued at approximately $1,710,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its stake in shares of Zions Bancorporation, National Association by 209.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,470 shares of the bank’s stock worth $117,000 after buying an additional 1,671 shares during the last quarter. Brooklyn Investment Group bought a new position in Zions Bancorporation, National Association in the 3rd quarter valued at about $119,000. TD Private Client Wealth LLC grew its position in shares of Zions Bancorporation, National Association by 15.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,837 shares of the bank’s stock worth $134,000 after purchasing an additional 375 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Zions Bancorporation, National Association during the 4th quarter worth approximately $201,000. Finally, Crewe Advisors LLC grew its position in shares of Zions Bancorporation, National Association by 24.9% during the 3rd quarter. Crewe Advisors LLC now owns 3,950 shares of the bank’s stock worth $187,000 after purchasing an additional 787 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Stock Up 1.9 %

Shares of NASDAQ ZION opened at $56.78 on Wednesday. Zions Bancorporation, National Association has a 1 year low of $38.01 and a 1 year high of $63.22. The stock has a market capitalization of $8.39 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.63 and a beta of 1.11. The company has a 50-day moving average price of $56.22 and a 200-day moving average price of $53.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. On average, equities research analysts forecast that Zions Bancorporation, National Association will post 5.38 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 13th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, February 13th. Zions Bancorporation, National Association’s dividend payout ratio is 34.75%.

Insiders Place Their Bets

In other news, EVP Paul E. Burdiss sold 9,506 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total value of $580,436.36. Following the sale, the executive vice president now owns 86,232 shares of the company’s stock, valued at $5,265,325.92. The trade was a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven Dan Stephens sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $55.71, for a total transaction of $557,100.00. Following the sale, the executive vice president now directly owns 45,847 shares in the company, valued at $2,554,136.37. This trade represents a 17.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,693 shares of company stock valued at $1,148,477. Company insiders own 2.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ZION. Wells Fargo & Company increased their price target on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. dropped their price target on shares of Zions Bancorporation, National Association from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Truist Financial raised their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird lifted their price target on shares of Zions Bancorporation, National Association from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.71.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.