UBS Group AG Has $42.23 Million Position in Zions Bancorporation, N.A. $ZION

Key Points

• UBS Group AG increased its stake in Zions by 11.7% in Q4 and now owns 721,430 shares valued at $42.23 million (approximately 0.49% of the company).
• Zions' board authorized a $225 million stock buyback (up to ~2.4% of shares) and declared a $0.45 quarterly dividend (annualized $1.80; ~2.8% yield).
• Zions reported an earnings beat with Q EPS of $1.56 vs. $1.43 expected and revenue of $859M, with a 13.9% ROE; the stock trades at a P/E of ~9.95 and carries a MarketBeat consensus rating of "Hold" (avg. price target $65.53).

UBS Group AG grew its position in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 721,430 shares of the bank's stock after buying an additional 75,322 shares during the quarter. UBS Group AG owned 0.49% of Zions Bancorporation, N.A. worth $42,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Zions Bancorporation, N.A. by 17.1% in the 4th quarter. Signaturefd LLC now owns 1,192 shares of the bank's stock valued at $70,000 after buying an additional 174 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Zions Bancorporation, N.A. by 3.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank's stock valued at $462,000 after purchasing an additional 240 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Zions Bancorporation, N.A. by 1.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 21,548 shares of the bank's stock valued at $1,219,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Zions Bancorporation, N.A. by 1.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,940 shares of the bank's stock valued at $902,000 after purchasing an additional 276 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Zions Bancorporation, N.A. by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 48,719 shares of the bank's stock valued at $2,757,000 after purchasing an additional 280 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Trading Up 1.4%

Shares of NASDAQ ZION opened at $63.99 on Thursday. 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 $45.24 and a 52-week high of $66.18. The firm has a 50 day moving average price of $58.77 and a two-hundred day moving average price of $57.67. The stock has a market cap of $9.41 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 2.10 and a beta of 0.83.

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, beating the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The firm 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 company posted $1.13 EPS. As a group, equities analysts forecast that Zions Bancorporation, N.A. will post 6.4 EPS for the current year.

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

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, May 14th. Zions Bancorporation, N.A.'s dividend payout ratio is 27.99%.

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

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 6,558 shares of the company's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $64.80, for a total value of $424,958.40. Following the completion of the transaction, the executive vice president directly owned 18,761 shares in the company, valued at approximately $1,215,712.80. This represents a 25.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven Dan Stephens sold 15,476 shares of the company's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $65.90, for a total transaction of $1,019,868.40. Following the completion of the transaction, the executive vice president owned 41,127 shares of the company's stock, valued at approximately $2,710,269.30. This trade represents a 27.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 24,863 shares of company stock worth $1,621,712. 1.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZION. Stephens lifted their price target on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, January 21st. Morgan Stanley decreased their price target on shares of Zions Bancorporation, N.A. from $75.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Weiss Ratings raised shares of Zions Bancorporation, N.A. from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Truist Financial lifted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday, April 21st. Finally, Robert W. Baird lifted their price target on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average 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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