Azora Capital LP Makes New Investment in Zions Bancorporation, N.A. $ZION

Azora Capital LP purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 754,919 shares of the bank's stock, valued at approximately $52,233,000. Zions Bancorporation, N.A. accounts for about 2.2% of Azora Capital LP's portfolio, making the stock its 15th biggest position. Azora Capital LP owned approximately 0.52% of Zions Bancorporation, N.A. as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Zions Bancorporation, N.A. during the second quarter valued at approximately $982,244,000. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, N.A. by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank's stock worth $430,813,000 after acquiring an additional 56,438 shares during the last quarter. LSV Asset Management grew its stake in Zions Bancorporation, N.A. by 1.3% during the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank's stock valued at $227,607,000 after acquiring an additional 48,346 shares in the last quarter. Morgan Stanley grew its stake in Zions Bancorporation, N.A. by 10.8% during the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank's stock valued at $184,478,000 after acquiring an additional 306,717 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank's stock valued at $167,677,000 after acquiring an additional 711,218 shares during the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Derek Steward sold 894 shares of the firm's stock in a transaction dated 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 trade represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott A. Law sold 4,608 shares of Zions Bancorporation, N.A. stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the transaction, the executive vice president directly owned 32,890 shares of the company's stock, valued at approximately $2,381,893.80. This represents a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 88,787 shares of company stock valued at $6,283,858. 1.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on ZION shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. Royal Bank Of Canada raised their price objective on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a "neutral" rating to an "underweight" rating and set a $75.00 target price on the stock. in a report on Tuesday, July 21st. Robert W. Baird boosted their target price on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Zions Bancorporation, N.A. from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $71.29.

Zions Bancorporation, N.A. Stock 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. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The company has a 50-day moving average price of $69.80 and a 200 day moving average price of $63.78. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 1.61 and a beta of 0.81.

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

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock buyback plan on Saturday, May 2nd that allows the company to buyback $225.00 million in shares. This buyback authorization allows the bank to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. This is an increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.'s dividend payout ratio is presently 24.46%.

Zions Bancorporation, N.A. 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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