Physician Wealth Advisors Inc. Has $1.29 Million Stake in Zions Bancorporation, N.A. $ZION

Physician Wealth Advisors Inc. raised its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 63.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,464 shares of the bank’s stock after buying an additional 8,697 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Zions Bancorporation, N.A. were worth $1,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $105,700,000. Balyasny Asset Management L.P. grew its holdings in shares of Zions Bancorporation, N.A. by 1,270.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,146,992 shares of the bank’s stock valued at $67,145,000 after buying an additional 1,063,303 shares during the period. AQR Capital Management LLC increased its position in shares of Zions Bancorporation, N.A. by 31.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock valued at $167,677,000 after buying an additional 711,218 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Zions Bancorporation, N.A. during the 2nd quarter worth $32,008,000. Finally, FIL Ltd lifted its holdings in Zions Bancorporation, N.A. by 117.6% during the fourth quarter. FIL Ltd now owns 1,113,079 shares of the bank’s stock worth $65,160,000 after acquiring an additional 601,610 shares in the last quarter. 76.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

ZION has been the topic of a number of research analyst reports. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Robert W. Baird restated a “neutral” rating and set a $68.00 target price on shares of Zions Bancorporation, N.A. in a report on Tuesday, June 23rd. Citigroup upped their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Barclays raised their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, April 22nd. Finally, TD Cowen upped their target price on shares of Zions Bancorporation, N.A. from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Zions Bancorporation, N.A. has an average rating of “Hold” and a consensus price target of $67.35.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $70.70 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $70.88. The firm has a fifty day simple moving average of $63.84 and a 200 day simple moving average of $60.88. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 2.22 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $859.00 million during 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 EPS. Research analysts forecast that Zions Bancorporation, N.A. will post 6.47 EPS for the current fiscal year.

Zions Bancorporation, N.A. announced that its board has initiated a share buyback plan on Saturday, May 2nd that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the bank to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid 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 (DPR) is currently 27.99%.

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.