Bank of New York Mellon Corp Acquires 36,392 Shares of Zions Bancorporation, N.A. $ZION

Bank of New York Mellon Corp boosted its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,313,531 shares of the bank's stock after purchasing an additional 36,392 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Zions Bancorporation, N.A. worth $76,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at $32,000. Leonteq Securities AG acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at $32,000. Community Bank N.A. acquired a new stake in Zions Bancorporation, N.A. in the third quarter valued at $36,000. V Square Quantitative Management LLC acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at $42,000. Finally, International Assets Investment Management LLC acquired a new stake in Zions Bancorporation, N.A. in the fourth quarter valued at $49,000. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $64.83 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $66.18. The firm has a market cap of $9.54 billion, a P/E ratio of 10.08, a P/E/G ratio of 2.09 and a beta of 0.81. The company's 50-day moving average price is $61.42 and its two-hundred day moving average price is $59.39.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its 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 firm had revenue of $859.00 million during the quarter, compared to analysts' expectations 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 period in the prior year, the company earned $1.13 earnings per share. On average, analysts anticipate that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.

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

Zions Bancorporation, N.A. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.'s payout ratio is presently 27.99%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts have commented on ZION shares. Brean Capital started coverage on shares of Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They issued a "neutral" rating for the company. Royal Bank Of Canada raised their target price on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 21st. Piper Sandler cut their target price on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Barclays raised their target price on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $65.53.

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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