Y Intercept Hong Kong Ltd Buys Shares of 44,368 Zions Bancorporation, N.A. $ZION

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter stake in Zions Bancorporation, buying 44,368 shares valued at about $2.56 million.
• Analyst sentiment on ZION remains mixed, with a consensus rating of “Hold” and an average price target of $67.82, though several firms recently raised targets and issued bullish ratings.
• The bank reported better-than-expected Q1 earnings of $1.56 per share versus estimates of $1.43, and it also announced a $225 million share buyback along with a quarterly dividend of $0.45 per share.

Y Intercept Hong Kong Ltd bought a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 44,368 shares of the bank's stock, valued at approximately $2,556,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Signaturefd LLC increased its position in 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 acquiring an additional 174 shares during the period. Michels Family Financial LLC grew its stake in shares of Zions Bancorporation, N.A. by 1.5% in the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank's stock worth $711,000 after purchasing an additional 185 shares in the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of Zions Bancorporation, N.A. by 13.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank's stock worth $91,000 after purchasing an additional 185 shares in the last quarter. Alta Capital Management LLC increased its holdings in shares of Zions Bancorporation, N.A. by 0.7% during the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank's stock valued at $1,630,000 after purchasing an additional 203 shares during the period. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Zions Bancorporation, N.A. by 3.1% during the fourth 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 period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ZION. Royal Bank Of Canada increased their target price on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 21st. Citigroup boosted their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Stephens initiated coverage on shares of Zions Bancorporation, N.A. in a report on Monday, June 15th. They issued an "overweight" rating and a $79.00 price objective for the company. Morgan Stanley raised their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Finally, TD Cowen boosted their target price on Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of "Hold" and an average price target of $67.82.

Insider Activity at Zions Bancorporation, N.A.

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm's stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.43% of the company's stock.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $70.69 on Wednesday. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $71.26. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $64.48 and a 200-day moving average of $61.18. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 2.26 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last released its earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same period in the previous year, the firm earned $1.13 EPS. Analysts forecast that Zions Bancorporation, N.A. will post 6.48 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders 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 annualized dividend and a dividend yield of 2.5%. Zions Bancorporation, N.A.'s dividend payout ratio is currently 27.99%.

Zions Bancorporation, N.A. declared that its board has authorized 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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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