Zions Bancorporation, N.A. $ZION Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 11.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,262 shares of the bank’s stock after acquiring an additional 9,848 shares during the period. Sequoia Financial Advisors LLC’s holdings in Zions Bancorporation, N.A. were worth $6,868,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZION. Stephens decreased their price objective on shares of Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $77.00 price target on shares of Zions Bancorporation, N.A. in a research note on Tuesday. Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada boosted their price objective on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Stock Up 0.7%

Shares of NASDAQ ZION opened at $68.75 on Friday. The company has a market capitalization of $10.03 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The company has a 50 day simple moving average of $69.71 and a 200-day simple moving average of $64.25. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.17. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The firm’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 earnings per share. On average, equities research analysts predict that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $0.48 dividend. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 24.46%.

Zions Bancorporation, N.A. announced that its board has authorized a stock buyback plan on Thursday, July 30th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the bank to buy up to 0.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total value of $2,350,919.55. Following the transaction, the president owned 73,043 shares of the company’s stock, valued at $5,159,027.09. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott A. Law sold 4,608 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.42, for a total transaction of $333,711.36. Following the transaction, the executive vice president directly owned 32,890 shares of the company’s stock, valued at approximately $2,381,893.80. This trade represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 88,787 shares of company stock worth $6,283,858. 1.43% of the stock is currently owned by company insiders.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a financial services company headquartered in Salt Lake City, Utah. Through its affiliated banks, the company provides a broad range of banking and related financial services to individuals, small and midsize businesses, commercial clients, and public-sector organizations.

The company’s services include commercial and consumer lending, deposits, home loans, cash management, treasury services, wealth management, investment services, and capital markets activities.