LSV Asset Management Has $227.61 Million Position in Zions Bancorporation, N.A. $ZION

Key Points

• LSV Asset Management increased its stake in Zions Bancorporation by 1.3% in the fourth quarter, ending with 3.89 million shares valued at about $227.6 million. The fund now owns about 2.63% of the bank.
• Zions reported better-than-expected quarterly earnings, posting $1.56 EPS versus the $1.43 consensus estimate, while revenue also came in slightly above forecasts. Analysts expect full-year EPS of 6.44.
• The bank announced a $225 million share repurchase program and paid a quarterly dividend of $0.45 per share, implying an annualized yield of about 2.9%. The stock also has a consensus analyst rating of Hold with a price target of $65.53.

LSV Asset Management lifted its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,888,064 shares of the bank's stock after purchasing an additional 48,346 shares during the quarter. LSV Asset Management owned 2.63% of Zions Bancorporation, N.A. worth $227,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZION. Royal Bank of Canada boosted its position in shares of 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $2,042,000 after purchasing an additional 6,393 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Zions Bancorporation, N.A. by 0.5% during 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 worth $25,172,000 after purchasing an additional 2,659 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Zions Bancorporation, N.A. by 91.7% during the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank's stock worth $1,072,000 after purchasing an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Zions Bancorporation, N.A. by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank's stock worth $94,000 after purchasing an additional 625 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Harris H. Simmons purchased 4,500 shares of Zions Bancorporation, N.A. stock in a transaction on Tuesday, February 24th. The shares were purchased at an average cost of $59.03 per share, with a total value of $265,635.00. Following the transaction, the chief executive officer owned 1,317,493 shares in the company, valued at approximately $77,771,611.79. The trade was a 0.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.43% of the company's stock.

Zions Bancorporation, N.A. Price Performance

NASDAQ ZION opened at $62.12 on Friday. The business has a 50 day simple moving average of $59.58 and a 200 day simple moving average of $58.39. Zions Bancorporation, N.A. has a 52-week low of $45.52 and a 52-week high of $66.18. 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 stock has a market cap of $9.14 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 2.04 and a beta of 0.83.

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

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

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 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 2.9%. Zions Bancorporation, N.A.'s dividend payout ratio is 27.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ZION. Truist Financial lifted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a "hold" rating in a research report on Tuesday, April 21st. DA Davidson increased their target price on Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Barclays increased their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 22nd. Piper Sandler lowered their target price on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada increased their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $65.53.

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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