NorthCrest Asset Manangement LLC Makes New Investment in Zions Bancorporation, N.A. (NASDAQ:ZION)

NorthCrest Asset Manangement LLC bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,764 shares of the bank's stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of Zions Bancorporation, N.A. by 51.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank's stock valued at $29,000 after buying an additional 183 shares during the period. CIBC Asset Management Inc boosted its holdings in Zions Bancorporation, N.A. by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,511 shares of the bank's stock valued at $245,000 after purchasing an additional 224 shares during the period. Jackson Creek Investment Advisors LLC grew its position in shares of Zions Bancorporation, N.A. by 3.3% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,027 shares of the bank's stock valued at $490,000 after purchasing an additional 285 shares in the last quarter. Blair William & Co. IL raised its position in shares of Zions Bancorporation, N.A. by 4.7% in the fourth quarter. Blair William & Co. IL now owns 6,713 shares of the bank's stock worth $364,000 after buying an additional 303 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Zions Bancorporation, N.A. by 0.8% during the fourth quarter. Arizona State Retirement System now owns 42,839 shares of the bank's stock valued at $2,324,000 after buying an additional 322 shares during the period. 76.84% of the stock is owned by institutional investors.

Zions Bancorporation, N.A. Trading Up 2.2%

ZION stock traded up $1.05 during midday trading on Thursday, hitting $48.33. The company had a trading volume of 1,601,588 shares, compared to its average volume of 1,566,049. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.55 and a beta of 0.88. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $63.22. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The stock's 50 day moving average price is $46.62 and its 200 day moving average price is $51.26.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $795.00 million for the quarter, compared to analysts' expectations of $792.49 million. Zions Bancorporation, N.A. had a net margin of 16.08% and a return on equity of 13.53%. During the same quarter in the previous year, the company earned $0.96 earnings per share. As a group, equities research analysts expect that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. announced that its Board of Directors has authorized a share buyback program on Monday, February 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 3.56%. Zions Bancorporation, N.A.'s dividend payout ratio is presently 33.59%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZION. Jefferies Financial Group began coverage on Zions Bancorporation, N.A. in a report on Wednesday, May 21st. They issued an "underperform" rating and a $40.00 price target on the stock. Truist Financial initiated coverage on shares of Zions Bancorporation, N.A. in a research report on Tuesday, May 13th. They set a "hold" rating and a $52.00 target price for the company. Robert W. Baird dropped their price objective on shares of Zions Bancorporation, N.A. from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised Zions Bancorporation, N.A. from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Wells Fargo & Company lowered their price target on Zions Bancorporation, N.A. from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and an average price target of $57.94.

Zions Bancorporation, N.A. Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.