Maltese Capital Management LLC Cuts Stock Position in Zions Bancorporation, N.A. $ZION

Maltese Capital Management LLC decreased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 34.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,000 shares of the bank’s stock after selling 55,000 shares during the period. Maltese Capital Management LLC’s holdings in Zions Bancorporation, N.A. were worth $6,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ZION. Torren Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter valued at about $32,000. Leonteq Securities AG purchased a new position in Zions Bancorporation, N.A. during the fourth quarter valued at approximately $32,000. Community Bank N.A. acquired a new position in Zions Bancorporation, N.A. in the third quarter valued at approximately $36,000. Atlas Capital Advisors Inc. purchased a new stake in Zions Bancorporation, N.A. in the 4th quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth approximately $42,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $66.27 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $67.99. The company has a 50-day simple moving average of $62.15 and a 200-day simple moving average of $59.80. The company has a market capitalization of $9.75 billion, a PE ratio of 10.31, a P/E/G ratio of 2.23 and a beta of 0.81.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released 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. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The firm had revenue of $859.00 million for the quarter, compared to the consensus estimate of $853.73 million. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Equities research analysts predict that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 27.99%.

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

Analysts Set New Price Targets

ZION has been the topic of several recent analyst reports. Morgan Stanley lowered their target price 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. DA Davidson increased their target price on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. TD Cowen boosted their target price on 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. JPMorgan Chase & Co. increased their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Finally, Brean Capital started coverage on Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and an average price target of $66.35.

Insider Buying and Selling at Zions Bancorporation, N.A.

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.43% of the stock is currently owned by corporate 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.