Infrastructure Capital Advisors LLC Buys Shares of 40,839 Zions Bancorporation, N.A. $ZION

Infrastructure Capital Advisors LLC bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 40,839 shares of the bank’s stock, valued at approximately $2,826,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Basswood Capital Management L.L.C. boosted its holdings in shares of Zions Bancorporation, N.A. by 266.4% during 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 period. LSV Asset Management boosted 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 valued at $227,607,000 after buying an additional 48,346 shares during the period. Qsemble Capital Management LP purchased a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $3,353,000. Arbejdsmarkedets Tillaegspension acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter worth $24,271,000. Finally, Norges Bank acquired a new stake in Zions Bancorporation, N.A. during the fourth quarter valued at $105,700,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $68.14 on Monday. The stock’s 50-day moving average price is $69.71 and its 200 day moving average price is $63.68. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 1.62 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 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.17. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.Zions Bancorporation, N.A.’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. As a group, research analysts predict that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

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 repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Increases Dividend

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

Insider Activity

In other news, EVP Scott A. Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.42, for a total transaction of $333,711.36. Following the sale, the executive vice president directly owned 32,890 shares in the company, valued at approximately $2,381,893.80. The trade was a 12.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 88,787 shares of company stock worth $6,283,858. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ZION shares. Wells Fargo & Company lifted their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price on the stock. in a research report on Tuesday, July 21st. Stephens lowered their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Cantor Fitzgerald increased their price target on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Morgan Stanley raised their target price on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $71.29.

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.