Basswood Capital Management L.L.C. Raises Position in Zions Bancorporation, N.A. $ZION

Basswood Capital Management L.L.C. lifted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 266.4% in the 4th quarter, HoldingsChannel reports. The firm owned 404,520 shares of the bank’s stock after buying an additional 294,121 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in Zions Bancorporation, N.A. were worth $23,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Aigen Investment Management LP bought a new position in Zions Bancorporation, N.A. in the 4th quarter worth approximately $254,000. Arrowstreet Capital Limited Partnership boosted its holdings in Zions Bancorporation, N.A. by 4.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,896,825 shares of the bank’s stock worth $111,040,000 after buying an additional 79,243 shares during the period. Atlas Capital Advisors Inc. bought a new position in Zions Bancorporation, N.A. in the 4th quarter worth approximately $36,000. FORA Capital LLC boosted its holdings in Zions Bancorporation, N.A. by 185.9% in the 4th quarter. FORA Capital LLC now owns 27,209 shares of the bank’s stock worth $1,593,000 after buying an additional 17,693 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Zions Bancorporation, N.A. by 0.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 817,572 shares of the bank’s stock worth $47,861,000 after buying an additional 4,268 shares during the period. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock opened at $67.25 on Friday. The firm’s fifty day moving average price is $61.98 and its 200-day moving average price is $59.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $9.89 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 2.23 and a beta of 0.81. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $67.67.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same quarter last year, the company posted $1.13 EPS. On average, equities research analysts expect that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 27.99%.

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 buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZION. Barclays raised their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, April 22nd. DA Davidson raised their price objective on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada raised their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 21st. TD Cowen raised their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Finally, Brean Capital initiated coverage on shares of Zions Bancorporation, N.A. in a report on Thursday, March 12th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of “Hold” and a consensus price target of $65.53.

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

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Company 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.