PL Capital Advisors LLC purchased a new position in Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating ) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 29,000 shares of the bank’s stock, valued at approximately $1,017,000.
Several other large investors have also recently modified their holdings of the company. Hancock Whitney Corp boosted its holdings in shares of Zions Bancorporation, National Association by 0.7% during the third quarter. Hancock Whitney Corp now owns 31,279 shares of the bank’s stock valued at $1,590,000 after acquiring an additional 206 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 11.1% in the third quarter. Daiwa Securities Group Inc. now owns 2,168 shares of the bank’s stock worth $110,000 after acquiring an additional 216 shares during the period. Thompson Investment Management Inc. grew its holdings in shares of Zions Bancorporation, National Association by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 90,859 shares of the bank’s stock valued at $4,625,000 after acquiring an additional 237 shares during the period. Truist Financial Corp boosted its holdings in shares of Zions Bancorporation, National Association by 0.5% in the second quarter. Truist Financial Corp now owns 45,005 shares of the bank’s stock valued at $2,292,000 after acquiring an additional 245 shares during the period. Finally, Ellevest Inc. boosted its holdings in shares of Zions Bancorporation, National Association by 67.0% in the second quarter. Ellevest Inc. now owns 653 shares of the bank’s stock valued at $33,000 after acquiring an additional 262 shares during the period. Institutional investors own 81.86% of the company’s shares.
Zions Bancorporation, National Association Trading up 2.2%
NASDAQ ZION traded up $1.17 during trading hours on Friday, reaching $53.37. 1,709,269 shares of the company were exchanged, with an average volume of 1,448,704. The stock has a 50-day moving average price of $49.73 and a 200-day moving average price of $52.23. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.15. Zions Bancorporation, National Association has a 52-week low of $45.21 and a 52-week high of $75.44. The stock has a market cap of $7.99 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.33 and a beta of 1.15.
Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating ) last issued its quarterly earnings data on Monday, January 23rd. The bank reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.18. Zions Bancorporation, National Association had a return on equity of 18.36% and a net margin of 27.18%. The company had revenue of $988.00 million for the quarter, compared to analysts’ expectations of $873.05 million. During the same period in the previous year, the firm reported earnings of $1.34 per share. analysts predict that Zions Bancorporation, National Association will post 6.47 earnings per share for the current fiscal year.
Zions Bancorporation, National Association declares dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 23rd. Shareholders of record on Thursday, February 16th will be paid a dividend of $0.41 per share. This represents an annualized dividend of $1.64 and a dividend yield of 3.07%. Zions Bancorporation, National Association’s dividend payout ratio is 28.28%.
Zions Bancorporation, National Association announced that its Board of Directors has initiated a stock buyback plan on Friday, October 28th that permits the company to repurchase $50.00 million in shares. This buyback authorization allows the bank to purchase up to 0.6% of its shares through open market purchases. Stock buyback plans are usually a sign that a company’s board believes its stock is undervalued.
Wall Street analysts forecast growth
ZION has been the subject of several analyst reports. Barclays downgraded Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $68.00 to $59.00 in a research report on Tuesday, January 3rd. Wolfe Research downgraded Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 2nd. StockNews.com initiated coverage on Zions Bancorporation, National Association in a research report on Wednesday, October 12th. They assign a “hold” rating to the stock. Piper Sandler dropped their target price on Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Finally, Truist Financial reduced their price objective on Zions Bancorporation, National Association from $60.00 to $57.00 in a research report on Friday, December 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.92, according to MarketBeat .
Internal activity
In other news, VP Bruce K. Alexander sold 2,378 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $52.05, for a total transaction of $123,774.90. Following the transaction, the vice president now owns 15,172 shares of the company’s stock, valued at $789,702.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Thomas E. Laursen sold 880 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $51.79, for a total transaction of $45,575.20. Following the transaction, the vice president now owns 27,007 shares of the company’s stock, valued at $1,398,692.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Bruce K. Alexander sold 2,378 shares of the company’s stock in a transaction that occurred on Monday, October 31st. Shares were sold at an average price of $52.05, for a total value of $123,774.90. Following the transaction, the vice president now directly owns 15,172 shares in the company, valued at approximately $789,702.60. Disclosure of this sale can be found here. Over the last 90 days, insiders have sold 18,032 shares of company stock worth $905,391. 1.81% of shares are currently owned by insiders.
Zions Bancorporation, National Association Profile
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Zions Bancorporation, National Association provides a variety of banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small and medium-sized businesses; Banking services for commercial real estate; municipal and public financial services; retail banking, including residential mortgages; trust services; Wealth management and private client banking; and capital markets products and services.
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