Inscription Capital LLC Invests $365,000 in Zions Bancorporation, N.A. (NASDAQ:ZION)

Inscription Capital LLC bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,311 shares of the bank's stock, valued at approximately $365,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the first quarter worth approximately $3,383,000. Exchange Traded Concepts LLC increased its stake in Zions Bancorporation, N.A. by 1,266.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,703 shares of the bank's stock valued at $185,000 after buying an additional 3,432 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Zions Bancorporation, N.A. by 61.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 70,936 shares of the bank's stock worth $3,537,000 after buying an additional 27,001 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in Zions Bancorporation, N.A. in the 1st quarter worth approximately $287,000. Finally, CX Institutional acquired a new stake in shares of Zions Bancorporation, N.A. during the 1st quarter valued at $53,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ:ZION traded up $1.05 during trading on Thursday, reaching $48.33. The stock had a trading volume of 1,601,588 shares, compared to its average volume of 1,566,049. The stock has a fifty day simple moving average of $46.62 and a two-hundred day simple moving average of $51.26. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.71. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 1.55 and a beta of 0.88.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its earnings results on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $795.00 million for the quarter, compared to analyst estimates of $792.49 million. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. During the same period last year, the business posted $0.96 EPS. As a group, analysts anticipate that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. declared that its board has authorized a stock repurchase program on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, May 15th. Zions Bancorporation, N.A.'s dividend payout ratio is currently 33.59%.

Analyst Upgrades and Downgrades

ZION has been the topic of a number of research reports. Royal Bank Of Canada dropped their price target on shares of Zions Bancorporation, N.A. from $63.00 to $53.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Zions Bancorporation, N.A. in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 target price on the stock. Robert W. Baird cut their price target on Zions Bancorporation, N.A. from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company reduced their price target on Zions Bancorporation, N.A. from $58.00 to $47.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Truist Financial initiated coverage on Zions Bancorporation, N.A. in a research note on Tuesday, May 13th. They issued a "hold" rating and a $52.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $57.94.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.