Quantinno Capital Management LP Buys 414,902 Shares of Zions Bancorporation, N.A. $ZION

Quantinno Capital Management LP increased its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 50.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,242,578 shares of the bank's stock after buying an additional 414,902 shares during the quarter. Quantinno Capital Management LP owned about 0.84% of Zions Bancorporation, N.A. worth $71,597,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank's stock valued at $430,813,000 after acquiring an additional 56,438 shares in the last quarter. LSV Asset Management grew its holdings in shares of Zions Bancorporation, N.A. by 1.3% during the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank's stock worth $227,607,000 after purchasing an additional 48,346 shares in the last quarter. Morgan Stanley increased its position in shares of Zions Bancorporation, N.A. by 10.8% in the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank's stock worth $184,478,000 after purchasing an additional 306,717 shares during the period. AQR Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 31.6% in the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank's stock worth $167,677,000 after purchasing an additional 711,218 shares during the period. Finally, Geode Capital Management LLC raised its stake in Zions Bancorporation, N.A. by 1.1% in the fourth 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 in the last quarter. Institutional investors own 76.84% of the company's stock.

Insider Buying and Selling at Zions Bancorporation, N.A.

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

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $69.52 on Wednesday. The stock's 50-day simple moving average is $67.06 and its 200 day simple moving average is $62.32. The firm has a market capitalization of $10.23 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. 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. has a twelve month low of $46.19 and a twelve month high of $73.34.

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

Zions Bancorporation, N.A. Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ZION shares. Piper Sandler cut their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Wells Fargo & Company raised their target price on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Citigroup boosted 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 research report on Wednesday, April 22nd. JPMorgan Chase & Co. downgraded shares of Zions Bancorporation, N.A. from a "neutral" rating to an "underweight" rating and set a $75.00 price target for the company. in a report on Tuesday, July 21st. Finally, TD Cowen increased their price target on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $71.29.

Zions Bancorporation, N.A. Company 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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