Algert Global LLC Has $895,000 Stock Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Algert Global LLC trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,925 shares of the bank’s stock after selling 5,953 shares during the quarter. Algert Global LLC’s holdings in Zions Bancorporation, National Association were worth $895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Ironwood Wealth Management LLC. raised its stake in shares of Zions Bancorporation, National Association by 2.9% during the first quarter. Ironwood Wealth Management LLC. now owns 21,463 shares of the bank’s stock valued at $1,180,000 after acquiring an additional 597 shares during the last quarter. Acadian Asset Management LLC grew its stake in Zions Bancorporation, National Association by 47.9% during the first quarter. Acadian Asset Management LLC now owns 6,806 shares of the bank’s stock worth $373,000 after purchasing an additional 2,203 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Zions Bancorporation, National Association in the first quarter worth approximately $694,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Zions Bancorporation, National Association by 67.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,040 shares of the bank’s stock worth $2,000,000 after purchasing an additional 18,596 shares in the last quarter. Finally, Brinker Capital Investments LLC bought a new position in shares of Zions Bancorporation, National Association during the 1st quarter worth approximately $404,000. Institutional investors own 82.43% of the company’s stock.

ZION has been the topic of several research reports. Keefe, Bruyette & Woods upgraded shares of Zions Bancorporation, National Association from a “market perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, September 7th. Jefferies Financial Group boosted their price target on shares of Zions Bancorporation, National Association from $56.00 to $68.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank of Canada lifted their price target on Zions Bancorporation, National Association from $53.00 to $59.00 and gave the company a “sector perform” rating in a research note on Friday, August 27th. Truist lifted their price objective on shares of Zions Bancorporation, National Association from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, August 30th. Finally, Truist Securities upped their price objective on shares of Zions Bancorporation, National Association from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $58.88.

Shares of ZION traded up $0.61 on Thursday, reaching $62.75. The company’s stock had a trading volume of 8,658 shares, compared to its average volume of 1,356,644. The stock’s 50 day simple moving average is $58.08 and its two-hundred day simple moving average is $55.94. Zions Bancorporation, National Association has a 12-month low of $29.83 and a 12-month high of $64.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $10.17 billion, a P/E ratio of 9.34, a PEG ratio of 0.59 and a beta of 1.57.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its earnings results on Sunday, July 18th. The bank reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.79. The firm had revenue of $760.00 million during the quarter, compared to analysts’ expectations of $712.42 million. Zions Bancorporation, National Association had a return on equity of 15.45% and a net margin of 38.07%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. Analysts expect that Zions Bancorporation, National Association will post 6.59 earnings per share for the current year.

Zions Bancorporation, National Association announced that its board has approved a stock repurchase plan on Friday, July 23rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the bank to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 12th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, August 11th. This represents a $1.52 annualized dividend and a dividend yield of 2.42%. This is a positive change from Zions Bancorporation, National Association’s previous quarterly dividend of $0.34. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is currently 50.33%.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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