Basswood Capital Management L.L.C. Buys 294,121 Shares of Zions Bancorporation, N.A. $ZION

Basswood Capital Management L.L.C. lifted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 266.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,520 shares of the bank's stock after purchasing an additional 294,121 shares during the quarter. Basswood Capital Management L.L.C. owned about 0.27% of Zions Bancorporation, N.A. worth $23,681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp bought a new position in Zions Bancorporation, N.A. in the 4th quarter valued at about $8,591,000. Jupiter Asset Management Ltd. bought a new position in Zions Bancorporation, N.A. in the 3rd quarter valued at about $934,000. Burney Co. bought a new position in Zions Bancorporation, N.A. in the 4th quarter valued at about $4,762,000. Caprock Group LLC bought a new position in Zions Bancorporation, N.A. in the 3rd quarter valued at about $1,825,000. Finally, Arbejdsmarkedets Tillaegspension bought a new position in Zions Bancorporation, N.A. in the 4th quarter valued at about $24,271,000. Institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Trading Up 1.2%

NASDAQ:ZION opened at $67.25 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 2.23 and a beta of 0.81. Zions Bancorporation, N.A. has a 52 week low of $46.19 and a 52 week high of $67.67. The firm has a 50-day moving average price of $61.98 and a two-hundred day moving average price of $59.65.

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 (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The company had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. During the same quarter last year, the business posted $1.13 EPS. On average, equities analysts expect that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a stock buyback program on Saturday, May 2nd that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 27.99%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

ZION has been the topic of several recent research reports. Royal Bank Of Canada raised 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 report on Tuesday, April 21st. Piper Sandler dropped their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, April 22nd. Finally, Robert W. Baird raised their price target on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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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