Sei Investments Co. Raises Stock Position in Zions Bancorporation, N.A. $ZION

Sei Investments Co. increased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,671 shares of the bank's stock after acquiring an additional 73,699 shares during the quarter. Sei Investments Co. owned about 0.27% of Zions Bancorporation, N.A. worth $22,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Torren Management LLC purchased a new position in Zions Bancorporation, N.A. in the fourth quarter worth $32,000. Leonteq Securities AG purchased a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth $36,000. V Square Quantitative Management LLC purchased a new position in Zions Bancorporation, N.A. during the 4th quarter worth $42,000. Finally, International Assets Investment Management LLC purchased a new position in Zions Bancorporation, N.A. during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Stock Up 1.5%

NASDAQ:ZION opened at $69.52 on Wednesday. The firm has a market capitalization of $10.23 billion, a P/E ratio of 8.86, a PEG ratio of 1.64 and a beta of 0.80. The company's fifty day moving average price is $67.06 and its 200-day moving average price is $62.32. Zions Bancorporation, N.A. has a 1-year low of $46.19 and a 1-year high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. The ex-dividend date 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 (DPR) is presently 22.93%.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the business's stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ZION has been the subject of a number of research analyst reports. Stephens decreased their price target on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, July 21st. TD Cowen lifted their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Barclays boosted 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. Weiss Ratings raised Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Truist Financial raised their target price on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of "Hold" and an average 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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