Duality Advisers LP Makes New Investment in Zions Bancorporation NA (NASDAQ:ZION)

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Duality Advisers LP acquired a new position in shares of Zions Bancorporation NA (NASDAQ:ZION) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 58,202 shares of the bank’s stock, valued at approximately $1,979,000.

Several other hedge funds have also bought and sold shares of ZION. Macquarie Group Ltd. boosted its holdings in shares of Zions Bancorporation NA by 5.7% during the fourth quarter. Macquarie Group Ltd. now owns 257,756 shares of the bank’s stock worth $13,383,000 after purchasing an additional 13,948 shares during the last quarter. Norges Bank acquired a new position in Zions Bancorporation NA in the fourth quarter valued at $89,690,000. State of Alaska Department of Revenue boosted its holdings in Zions Bancorporation NA by 8.2% in the first quarter. State of Alaska Department of Revenue now owns 89,386 shares of the bank’s stock valued at $2,391,000 after acquiring an additional 6,739 shares during the last quarter. Carolina Wealth Advisors LLC boosted its holdings in Zions Bancorporation NA by 112.4% in the first quarter. Carolina Wealth Advisors LLC now owns 10,330 shares of the bank’s stock valued at $276,000 after acquiring an additional 5,466 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in Zions Bancorporation NA by 15.9% in the first quarter. Wedge Capital Management L L P NC now owns 10,006 shares of the bank’s stock valued at $268,000 after acquiring an additional 1,371 shares during the last quarter. Institutional investors and hedge funds own 95.88% of the company’s stock.

In related news, VP Thomas E. Laursen sold 5,229 shares of Zions Bancorporation NA stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $31.03, for a total value of $162,255.87. Following the transaction, the vice president now owns 22,975 shares of the company’s stock, valued at approximately $712,914.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Harris H. Simmons purchased 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $26.43 per share, for a total transaction of $1,057,200.00. Following the purchase, the chairman now directly owns 1,222,254 shares in the company, valued at approximately $32,304,173.22. The disclosure for this purchase can be found here. 1.81% of the stock is owned by insiders.

A number of brokerages recently weighed in on ZION. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price on shares of Zions Bancorporation NA in a report on Tuesday, May 19th. Compass Point started coverage on Zions Bancorporation NA in a research report on Tuesday, April 14th. They issued a “neutral” rating on the stock. BidaskClub lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. SunTrust Banks cut their price objective on Zions Bancorporation NA from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, Wells Fargo & Co raised their price objective on Zions Bancorporation NA from $30.00 to $37.00 in a research report on Friday, June 5th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.71.

NASDAQ:ZION opened at $32.47 on Friday. The business’s 50-day moving average price is $33.52 and its 200 day moving average price is $35.32. The firm has a market cap of $5.32 billion, a P/E ratio of 12.07, a PEG ratio of 3.56 and a beta of 1.70. Zions Bancorporation NA has a 52-week low of $23.58 and a 52-week high of $52.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.

Zions Bancorporation NA (NASDAQ:ZION) last released its earnings results on Monday, July 20th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $686.00 million for the quarter, compared to analyst estimates of $694.13 million. Zions Bancorporation NA had a return on equity of 7.46% and a net margin of 15.70%. During the same period in the previous year, the firm earned $0.99 earnings per share. Sell-side analysts expect that Zions Bancorporation NA will post 2.09 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.19%. Zions Bancorporation NA’s payout ratio is currently 31.41%.

Zions Bancorporation NA Profile

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

See Also: What is the Difference Between Common Shares and Convertible Shares?

Institutional Ownership by Quarter for Zions Bancorporation NA (NASDAQ:ZION)

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