Edgestream Partners L.P. Has $11.51 Million Holdings in Zions Bancorporation, N.A. $ZION

Key Points

• Edgestream Partners increased its Zions Bancorporation stake by 74.8% in the first quarter, holding 199,682 shares valued at approximately $11.51 million. Institutional investors collectively own 76.84% of the bank.
• Zions shares opened at $68.92, near the middle of their 52-week range, while the company authorized a $225 million share-repurchase program and pays a quarterly dividend of $0.45 per share, yielding about 2.6% annually.
• Analyst sentiment remains mixed, with six Buy, twelve Hold and two Sell ratings; the stock carries an overall “Hold” rating and an average price target of $71.29.

Edgestream Partners L.P. lifted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 74.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,682 shares of the bank's stock after acquiring an additional 85,458 shares during the quarter. Zions Bancorporation, N.A. comprises approximately 0.4% of Edgestream Partners L.P.'s holdings, making the stock its 24th largest position. Edgestream Partners L.P. owned about 0.14% of Zions Bancorporation, N.A. worth $11,506,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Royal Bank of Canada boosted its position in Zions Bancorporation, N.A. by 76.3% during the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank's stock worth $6,853,000 after purchasing an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Zions Bancorporation, N.A. by 18.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank's stock valued at $2,042,000 after purchasing an additional 6,393 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Zions Bancorporation, N.A. by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank's stock valued at $25,172,000 after purchasing an additional 2,659 shares during the period. Focus Partners Wealth raised its position in shares of Zions Bancorporation, N.A. by 91.7% in the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank's stock valued at $1,072,000 after purchasing an additional 10,283 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Zions Bancorporation, N.A. by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank's stock valued at $94,000 after purchasing an additional 625 shares during the period. Institutional investors and hedge funds own 76.84% of the company's stock.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 4,209 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,653 shares of company stock worth $359,958 in the last ninety days. 1.43% of the stock is currently owned by insiders.

Zions Bancorporation, N.A. Stock Down 0.9%

Shares of ZION stock opened at $68.92 on Thursday. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $73.34. The firm has a market cap of $10.14 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. The stock has a 50 day moving average of $67.21 and a 200-day moving average of $62.38. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26.

Zions Bancorporation, N.A. announced that its board has authorized a share repurchase program on Saturday, May 2nd that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Zions Bancorporation, N.A. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. Zions Bancorporation, N.A.'s payout ratio is 22.93%.

Analyst Upgrades and Downgrades

ZION has been the subject of several recent analyst reports. DA Davidson upped their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Piper Sandler lowered their target price on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note 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 stock a "neutral" rating in a report on Wednesday, April 22nd. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Finally, Evercore cut shares of Zions Bancorporation, N.A. from an "outperform" rating to an "in-line" rating and set a $68.00 price target for the company. in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. has an average rating of "Hold" and an average price target of $71.29.

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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