Assenagon Asset Management S.A. Grows Stake in Zions Bancorporation, N.A. $ZION

Assenagon Asset Management S.A. lifted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 32.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,178 shares of the bank’s stock after buying an additional 55,196 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Zions Bancorporation, N.A. were worth $12,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp bought a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at $8,591,000. Basswood Capital Management L.L.C. boosted its holdings in Zions Bancorporation, N.A. by 266.4% in 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 during the last quarter. Burney Co. bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth $4,762,000. LSV Asset Management increased its position 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. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $24,271,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

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

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

ZION opened at $69.14 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $69.80. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 2.23 and a beta of 0.81. The firm’s fifty day simple moving average is $63.40 and its two-hundred day simple moving average is $60.60.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.The firm had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $853.73 million. During the same quarter last year, the firm earned $1.13 earnings per share. Equities analysts anticipate that Zions Bancorporation, N.A. will post 6.45 earnings per share for the current fiscal year.

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

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given 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 27.99%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZION shares. Stephens initiated coverage on shares of Zions Bancorporation, N.A. in a research report on Monday, June 15th. They set an “overweight” rating and a $79.00 price objective on the stock. Piper Sandler reduced their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. DA Davidson upped their price objective on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley cut their price target on shares of Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and an average price target of $66.35.

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.