Interval Partners LP Buys 131,482 Shares of Zions Bancorporation, N.A. $ZION

Key Points

• Interval Partners LP increased its Zions Bancorporation stake by 48.7% in the fourth quarter, buying 131,482 additional shares and bringing its total holding to 401,523 shares worth about $23.5 million.
• Zions reported better-than-expected quarterly results, with EPS of $1.56 versus the $1.43 consensus estimate and revenue of $859 million, while analysts currently see a consensus rating of Hold with an average price target of $66.35.
• The bank also declared a quarterly dividend of $0.45 per share and authorized a $225 million stock repurchase program, signaling continued capital returns to shareholders.

Interval Partners LP raised its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 48.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 401,523 shares of the bank's stock after purchasing an additional 131,482 shares during the period. Interval Partners LP owned 0.27% of Zions Bancorporation, N.A. worth $23,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZION. Dimensional Fund Advisors LP lifted its stake in shares of Zions Bancorporation, N.A. by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,420,688 shares of the bank's stock valued at $434,407,000 after purchasing an additional 77,612 shares during the period. LSV Asset Management lifted its stake in shares of Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank's stock valued at $227,607,000 after purchasing an additional 48,346 shares during the period. Morgan Stanley lifted its stake in shares of Zions Bancorporation, N.A. by 10.8% in the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank's stock valued at $184,478,000 after purchasing an additional 306,717 shares during the period. AQR Capital Management LLC lifted its stake in shares of Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank's stock valued at $167,677,000 after purchasing an additional 711,218 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Zions Bancorporation, N.A. by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank's stock valued at $173,501,000 after purchasing an additional 30,881 shares during the period. 76.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of recent analyst reports. TD Cowen boosted their price objective on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Tuesday, April 21st. Robert W. Baird boosted their price objective on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, April 21st. DA Davidson boosted their price objective on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada lifted 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 note on Tuesday, April 21st. Finally, Barclays upped their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an "underweight" rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $66.35.

Zions Bancorporation, N.A. Stock Down 0.9%

Shares of NASDAQ:ZION opened at $66.15 on Thursday. The business's 50 day simple moving average is $62.46 and its two-hundred day simple moving average is $59.99. The firm has a market cap of $9.73 billion, a P/E ratio of 10.29, a PEG ratio of 2.21 and a beta of 0.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $67.99.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last announced 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. The business had revenue of $859.00 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.13 earnings per share. As a group, research analysts forecast that Zions Bancorporation, N.A. will post 6.44 EPS for the current fiscal year.

Zions Bancorporation, N.A. Announces Dividend

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

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

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.43% of the company's stock.

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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