Zions Bancorporation, N.A. $ZION Stake Increased by Easterly Investment Partners LLC

Easterly Investment Partners LLC grew its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 40.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 80,329 shares of the bank’s stock after purchasing an additional 23,191 shares during the period. Easterly Investment Partners LLC’s holdings in Zions Bancorporation, N.A. were worth $4,702,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at $105,700,000. Baker Avenue Asset Management LP increased its stake in shares of Zions Bancorporation, N.A. by 19.8% in the fourth quarter. Baker Avenue Asset Management LP now owns 5,399 shares of the bank’s stock worth $316,000 after acquiring an additional 892 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Zions Bancorporation, N.A. by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock worth $173,501,000 after acquiring an additional 30,881 shares during the last quarter. Westover Capital Advisors LLC acquired a new position in shares of Zions Bancorporation, N.A. in the fourth quarter worth $205,000. Finally, Clearstead Advisors LLC increased its stake in shares of Zions Bancorporation, N.A. by 3.5% in the fourth quarter. Clearstead Advisors LLC now owns 8,988 shares of the bank’s stock worth $526,000 after acquiring an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

Zions Bancorporation, N.A. stock opened at $62.45 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 2.07 and a beta of 0.81. Zions Bancorporation, N.A. has a one year low of $46.09 and a one year high of $66.18. The company’s fifty day moving average price is $60.45 and its two-hundred day moving average price is $58.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. During the same period in the prior year, the business posted $1.13 earnings per share. On average, analysts forecast that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 27.99%.

Zions Bancorporation, N.A. declared that its board has approved a stock buyback program on Saturday, May 2nd that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley dropped 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 research note on Tuesday, March 31st. Royal Bank Of Canada upped their price target on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. Barclays upped their price target on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 22nd. Evercore upped their price target on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Finally, Piper Sandler dropped their price target on shares of Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.53.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $263,062.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.43% of the stock is owned by insiders.

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.