American Trust Buys Shares of 4,498 Zions Bancorporation, National Association (NASDAQ:ZION)

Posted by AM Reporter Staff on Mar 18th, 2023

American Trust bought a new stake in shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,498 shares of the bank’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZION. American Century Companies Inc. boosted its stake in Zions Bancorporation, National Association by 50.3% during the 1st quarter. American Century Companies Inc. now owns 33,685 shares of the bank’s stock valued at $2,209,000 after purchasing an additional 11,267 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Zions Bancorporation, National Association by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,168 shares of the bank’s stock worth $1,060,000 after acquiring an additional 341 shares during the period. HighTower Advisors LLC lifted its stake in shares of Zions Bancorporation, National Association by 2.7% in the 1st quarter. HighTower Advisors LLC now owns 17,117 shares of the bank’s stock worth $1,120,000 after acquiring an additional 448 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Zions Bancorporation, National Association in the 1st quarter worth approximately $267,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Zions Bancorporation, National Association by 453.6% in the 1st quarter. Acadian Asset Management LLC now owns 4,235 shares of the bank’s stock worth $277,000 after acquiring an additional 3,470 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Zions Bancorporation, National Association Stock Down 6.8 %

ZION stock opened at $29.94 on Friday. Zions Bancorporation, National Association has a 52-week low of $22.55 and a 52-week high of $71.25. The company’s 50 day simple moving average is $49.27 and its 200-day simple moving average is $50.75. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $4.45 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.24 and a beta of 1.17.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last released its quarterly earnings results on Monday, January 23rd. The bank reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.18. Zions Bancorporation, National Association had a net margin of 27.18% and a return on equity of 18.36%. The business had revenue of $988.00 million for the quarter, compared to analyst estimates of $873.05 million. During the same quarter in the previous year, the business earned $1.34 earnings per share. As a group, equities research analysts anticipate that Zions Bancorporation, National Association will post 6.4 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Investors of record on Thursday, February 16th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date was Wednesday, February 15th. Zions Bancorporation, National Association’s payout ratio is presently 28.28%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZION. JPMorgan Chase & Co. lowered shares of Zions Bancorporation, National Association from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $49.00 to $46.00 in a research note on Wednesday, January 25th. Wells Fargo & Company reduced their price target on shares of Zions Bancorporation, National Association from $55.00 to $50.00 in a research note on Thursday, March 9th. DA Davidson raised shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, December 20th. They noted that the move was a valuation call. Morgan Stanley reduced their price target on shares of Zions Bancorporation, National Association from $65.00 to $59.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 24th. Finally, StockNews.com assumed coverage on shares of Zions Bancorporation, National Association in a report on Thursday. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.32.

Insider Activity at Zions Bancorporation, National Association

In related news, CEO Alan M. Forney sold 4,307 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $53.02, for a total transaction of $228,357.14. Following the transaction, the chief executive officer now directly owns 18,014 shares of the company’s stock, valued at $955,102.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Steven Dan Stephens sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $54.42, for a total transaction of $326,520.00. Following the transaction, the executive vice president now directly owns 38,509 shares of the company’s stock, valued at $2,095,659.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan M. Forney sold 4,307 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $53.02, for a total transaction of $228,357.14. Following the transaction, the chief executive officer now directly owns 18,014 shares in the company, valued at $955,102.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,932 shares of company stock valued at $693,458. Corporate insiders own 1.81% of the company’s stock.

About Zions Bancorporation, National Association

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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.