Zions Bancorporation, N.A. $ZION Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP raised its stake in Zions by 0.4% in Q3, buying 30,552 shares to hold 7,343,076 shares (about 4.97%) worth roughly $415.47 million.
• Zions paid a quarterly dividend of $0.45 (annualized $1.80), implying a 3.1% yield and a dividend payout ratio of 30%.
• Insider activity included CEO Harris H. Simmons buying 4,500 shares (≈$265,635) while insiders sold 55,581 shares in the quarter; overall insider ownership stands at about 2.22%.

Dimensional Fund Advisors LP raised its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION - Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,343,076 shares of the bank's stock after buying an additional 30,552 shares during the period. Dimensional Fund Advisors LP owned about 4.97% of Zions Bancorporation, N.A. worth $415,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ZION. DAVENPORT & Co LLC boosted its holdings in Zions Bancorporation, N.A. by 2.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,500 shares of the bank's stock valued at $424,000 after acquiring an additional 200 shares during the period. Parkside Financial Bank & Trust increased its stake in Zions Bancorporation, N.A. by 7.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,926 shares of the bank's stock worth $152,000 after buying an additional 206 shares during the period. GAMMA Investing LLC lifted its holdings in Zions Bancorporation, N.A. by 2.2% during the 3rd quarter. GAMMA Investing LLC now owns 10,567 shares of the bank's stock worth $598,000 after buying an additional 232 shares in the last quarter. ProShare Advisors LLC boosted its position in Zions Bancorporation, N.A. by 3.9% in the 2nd quarter. ProShare Advisors LLC now owns 6,543 shares of the bank's stock valued at $340,000 after buying an additional 244 shares during the period. Finally, MainStreet Investment Advisors LLC grew its stake in shares of Zions Bancorporation, N.A. by 2.5% in the second quarter. MainStreet Investment Advisors LLC now owns 10,886 shares of the bank's stock worth $565,000 after acquiring an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $58.22 on Thursday. The business has a 50 day moving average price of $60.37 and a 200 day moving average price of $56.94. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.64. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 9.70 and a beta of 0.83. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $66.18.

Zions Bancorporation, N.A. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 12th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, February 12th. Zions Bancorporation, N.A.'s dividend payout ratio (DPR) is currently 30.00%.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 769 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $60.46, for a total value of $46,493.74. Following the completion of the sale, the executive vice president owned 14,307 shares of the company's stock, valued at approximately $865,001.22. This trade represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harris H. Simmons bought 4,500 shares of the stock in a transaction on Tuesday, February 24th. The shares were bought at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the transaction, the chief executive officer directly owned 1,317,493 shares of the company's stock, valued at $77,771,611.79. This trade represents a 0.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 55,581 shares of company stock valued at $3,498,774 over the last quarter. 2.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZION. Barclays increased their price objective on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an "underweight" rating in a research note on Monday, January 5th. Truist Financial increased their price target on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the company a "hold" rating in a research report on Thursday, January 22nd. UBS Group decreased their price objective on Zions Bancorporation, N.A. from $63.00 to $57.00 and set a "neutral" rating for the company in a research note on Wednesday, November 5th. Citigroup upped their target price on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. Finally, Evercore raised their target price on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an "in-line" rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Zions Bancorporation, N.A. currently has an average rating of "Hold" and an average target price of $63.58.

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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