Deutsche Bank AG Takes Position in Zions Bancorporation, N.A. $ZION

Key Points

• Deutsche Bank acquired 1.04 million Zions Bancorporation shares worth approximately $71.8 million, representing about 0.71% of the bank. Institutional investors and hedge funds collectively own 76.84% of the stock.
• Analysts raised several price targets, but the consensus rating remains “Hold”, with an average target of $71.29. ZION recently traded at $67.89, within its 52-week range of $46.19 to $73.34.
• Zions exceeded quarterly earnings and revenue expectations, reporting $1.74 EPS and $1.14 billion in revenue. The company also increased its quarterly dividend to $0.48 and authorized a $225 million share repurchase program, while insiders have sold shares in recent months.

Deutsche Bank AG bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,037,241 shares of the bank's stock, valued at approximately $71,767,000. Deutsche Bank AG owned about 0.71% of Zions Bancorporation, N.A. as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZION. Perigon Wealth Management LLC acquired a new position in Zions Bancorporation, N.A. in the second quarter valued at approximately $1,738,000. Trust Co. of Vermont purchased a new stake in Zions Bancorporation, N.A. in the 2nd quarter worth approximately $35,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $208,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Zions Bancorporation, N.A. during the 2nd quarter worth approximately $61,000. Finally, HBK Sorce Advisory LLC purchased a new position in shares of Zions Bancorporation, N.A. during the 2nd quarter valued at approximately $3,874,000. 76.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Royal Bank Of Canada raised their price target on shares of 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. Morgan Stanley upped their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Evercore lowered shares of Zions Bancorporation, N.A. from an "outperform" rating to an "in-line" rating and set a $68.00 target price on the stock. in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company raised their target price on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $71.29.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $67.89 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $9.91 billion, a PE ratio of 8.65, a P/E/G ratio of 1.62 and a beta of 0.81. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The company has a fifty day moving average of $69.69 and a two-hundred day moving average of $63.63.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced its earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $877.44 million. During the same quarter last year, the business earned $1.63 earnings per share. The company's revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, research analysts forecast that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, August 13th. This is a positive change from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.'s payout ratio is presently 24.46%.

Zions Bancorporation, N.A. announced that its board has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 33,285 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total transaction of $2,350,919.55. Following the completion of the sale, the president directly owned 73,043 shares in the company, valued at approximately $5,159,027.09. The trade was a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derek Steward sold 894 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the transaction, the executive vice president directly owned 17,449 shares of the company's stock, valued at $1,215,322.85. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 88,787 shares of company stock worth $6,283,858. Corporate insiders own 1.43% of the company's stock.

Zions Bancorporation, N.A. Company 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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