Arbejdsmarkedets Tillaegspension Raises Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Arbejdsmarkedets Tillaegspension increased its Zions Bancorporation stake by 8.7% in Q1, bringing its position to 450,669 shares valued at about $26 million.
• Zions reported strong quarterly results, with EPS of $1.56 topping estimates and revenue of $859 million, while analysts currently have a consensus Hold rating and a $68.18 price target.
• The bank’s board approved a $225 million share repurchase plan and recently paid a quarterly dividend of $0.45 per share, equivalent to a 2.5% annualized yield.

Arbejdsmarkedets Tillaegspension raised its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,669 shares of the bank's stock after buying an additional 36,071 shares during the quarter. Zions Bancorporation, N.A. comprises about 0.6% of Arbejdsmarkedets Tillaegspension's portfolio, making the stock its 21st biggest holding. Arbejdsmarkedets Tillaegspension owned approximately 0.31% of Zions Bancorporation, N.A. worth $25,968,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Zions Bancorporation, N.A. by 17.1% in the fourth quarter. Signaturefd LLC now owns 1,192 shares of the bank's stock valued at $70,000 after purchasing an additional 174 shares during the period. Michels Family Financial LLC boosted its holdings in Zions Bancorporation, N.A. by 1.5% in the 4th quarter. Michels Family Financial LLC now owns 12,142 shares of the bank's stock valued at $711,000 after purchasing an additional 185 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its holdings in Zions Bancorporation, N.A. by 13.5% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank's stock valued at $91,000 after purchasing an additional 185 shares during the last quarter. Alta Capital Management LLC grew its stake in shares of Zions Bancorporation, N.A. by 0.7% in the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank's stock valued at $1,630,000 after buying an additional 203 shares during the period. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Zions Bancorporation, N.A. by 3.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank's stock worth $462,000 after buying an additional 240 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on ZION shares. Wells Fargo & Company upped their target price on shares of Zions Bancorporation, N.A. from $63.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Royal Bank Of Canada boosted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 21st. Piper Sandler lowered their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Citigroup lifted their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Finally, DA Davidson boosted their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $68.18.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock opened at $70.66 on Monday. The firm has a market capitalization of $10.39 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.69 and a beta of 0.80. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $71.26. The stock's fifty day simple moving average is $64.90 and its 200-day simple moving average is $61.39.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter in the prior year, the business earned $1.13 EPS. As a group, equities analysts expect that Zions Bancorporation, N.A. will post 6.49 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has approved a share repurchase plan on Saturday, May 2nd that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 27.99%.

About Zions Bancorporation, N.A.

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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