425,137 Shares in Zions Bancorporation, N.A. $ZION Acquired by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 425,137 shares of the bank's stock, valued at approximately $29,415,000. Zions Bancorporation, N.A. makes up 1.2% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 22nd largest position. Basswood Capital Management L.L.C. owned about 0.29% of Zions Bancorporation, N.A. as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Wealth Partners LLC lifted its holdings in shares of Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank's stock valued at $29,000 after purchasing an additional 349 shares in the last quarter. Trust Co. of Vermont purchased a new position in Zions Bancorporation, N.A. in the 2nd quarter valued at about $35,000. Torren Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $32,000. Leonteq Securities AG acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth about $32,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Zions Bancorporation, N.A. during the fourth quarter worth approximately $36,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on ZION shares. DA Davidson lifted their price target on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. TD Cowen upped their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Stephens lowered their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, July 21st. JPMorgan Chase & Co. downgraded Zions Bancorporation, N.A. from a "neutral" rating to an "underweight" rating and set a $75.00 target price for the company. in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $71.29.

Insider Buying and Selling

In related news, President Scott J. Mclean sold 33,285 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the transaction, the president directly owned 73,043 shares of the company's stock, valued at $5,159,027.09. This represents a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Derek Steward sold 894 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the sale, the executive vice president owned 17,449 shares in the company, valued at approximately $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 88,787 shares of company stock valued at $6,283,858 in the last three months. 1.43% of the stock is currently owned by corporate insiders.

Zions Bancorporation, N.A. Trading Up 1.1%

Shares of NASDAQ ZION opened at $68.32 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 1.61 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. The stock's 50 day simple moving average is $69.80 and its 200 day simple moving average is $63.78.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.17. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $877.44 million. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The company's revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities research analysts expect that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

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 given a dividend of $0.48 per share. This is a boost from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 13th. Zions Bancorporation, N.A.'s payout ratio is presently 24.46%.

Zions Bancorporation, N.A. announced that its board has authorized a stock repurchase program on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

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.

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