Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys New Position in Zions Bancorporation, N.A. $ZION

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Zions Bancorporation during the fourth quarter, buying 70,452 shares worth about $4.12 million.
• Zions reported solid quarterly results, with EPS of $1.56 beating estimates and revenue of $859 million slightly above expectations.
• The bank announced a $225 million share buyback and a quarterly dividend of $0.45 per share, while analysts currently rate the stock a consensus “Hold” with a target price around $65.53.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 70,452 shares of the bank's stock, valued at approximately $4,124,000.

Several other hedge funds have also recently added to or reduced their stakes in ZION. Signaturefd LLC increased its position in shares of Zions Bancorporation, N.A. by 17.1% in the 4th quarter. Signaturefd LLC now owns 1,192 shares of the bank's stock valued at $70,000 after purchasing an additional 174 shares during the last quarter. Alta Capital Management LLC lifted its position in shares of Zions Bancorporation, N.A. by 0.7% during the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank's stock worth $1,630,000 after purchasing an additional 203 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Zions Bancorporation, N.A. by 3.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank's stock worth $462,000 after purchasing an additional 240 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Zions Bancorporation, N.A. by 1.2% in the third quarter. Crossmark Global Holdings Inc. now owns 21,548 shares of the bank's stock valued at $1,219,000 after buying an additional 247 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Zions Bancorporation, N.A. by 1.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,940 shares of the bank's stock worth $902,000 after buying an additional 276 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company's stock.

Insider Activity at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, CEO Harris H. Simmons acquired 4,500 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was purchased at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the transaction, the chief executive officer owned 1,317,493 shares of the company's stock, valued at $77,771,611.79. The trade was a 0.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,209 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,949 shares of company stock worth $309,427 in the last quarter. 1.43% of the stock is currently owned by insiders.

Zions Bancorporation, N.A. Trading Up 2.5%

NASDAQ:ZION opened at $61.71 on Thursday. Zions Bancorporation, N.A. has a 12-month low of $45.52 and a 12-month high of $66.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock's 50 day simple moving average is $59.31 and its 200-day simple moving average is $58.30. The firm has a market cap of $9.08 billion, a P/E ratio of 9.60, a PEG ratio of 1.99 and a beta of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period last year, the firm posted $1.13 EPS. Equities analysts anticipate that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a share buyback plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 14th will be given a $0.45 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.9%. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is presently 27.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZION. JPMorgan Chase & Co. raised their target price on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. TD Cowen upped their target price on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Tuesday, April 21st. Citigroup lifted their target price on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Finally, Stephens raised their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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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