230,495 Shares in Zions Bancorporation, N.A. $ZION Bought by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 230,495 shares of the bank’s stock, valued at approximately $13,281,000.

A number of other institutional investors have also bought and sold shares of ZION. Royal Bank of Canada raised its holdings in Zions Bancorporation, N.A. by 76.3% during the first quarter. Royal Bank of Canada now owns 137,434 shares of the bank’s stock valued at $6,853,000 after acquiring an additional 59,483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Zions Bancorporation, N.A. by 18.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,960 shares of the bank’s stock worth $2,042,000 after acquiring an additional 6,393 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Zions Bancorporation, N.A. by 0.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 504,860 shares of the bank’s stock worth $25,172,000 after purchasing an additional 2,659 shares in the last quarter. Focus Partners Wealth grew its position in shares of Zions Bancorporation, N.A. by 91.7% during the first quarter. Focus Partners Wealth now owns 21,502 shares of the bank’s stock worth $1,072,000 after purchasing an additional 10,283 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Zions Bancorporation, N.A. by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,816 shares of the bank’s stock worth $94,000 after purchasing an additional 625 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the sale, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,653 shares of company stock worth $359,958. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Trading Up 0.3%

Shares of ZION stock opened at $69.70 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34. The stock’s 50-day moving average price is $67.51 and its 200-day moving average price is $62.50.

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

Zions Bancorporation, N.A. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.92 annualized dividend and a yield of 2.8%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 22.93%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Cantor Fitzgerald boosted their price target on Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. DA Davidson increased their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. TD Cowen lifted their price objective on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Wells Fargo & Company lifted their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Robert W. Baird boosted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Zions Bancorporation, N.A. has an average rating of “Hold” and an average target price of $71.29.

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.