Interval Partners LP Has $23.51 Million Stake in Zions Bancorporation, N.A. $ZION

Interval Partners LP raised its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 48.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 401,523 shares of the bank’s stock after purchasing an additional 131,482 shares during the period. Interval Partners LP’s holdings in Zions Bancorporation, N.A. were worth $23,505,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Torren Management LLC acquired a new position in Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Leonteq Securities AG acquired a new position in Zions Bancorporation, N.A. during the 4th quarter valued at about $32,000. Community Bank N.A. acquired a new position in Zions Bancorporation, N.A. during the 3rd quarter valued at about $36,000. Atlas Capital Advisors Inc. acquired a new position in Zions Bancorporation, N.A. during the 4th quarter valued at about $36,000. Finally, V Square Quantitative Management LLC acquired a new position in Zions Bancorporation, N.A. during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $66.15 on Thursday. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $67.99. The stock’s 50 day moving average price is $62.46 and its 200-day moving average price is $59.99. The company has a market capitalization of $9.73 billion, a PE ratio of 10.29, a PEG ratio of 2.21 and a beta of 0.81. 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. (NASDAQ:ZION) last announced its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.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 business earned $1.13 EPS. On average, equities analysts anticipate that Zions Bancorporation, N.A. will post 6.44 EPS for the current year.

Zions Bancorporation, N.A. announced that its Board of Directors has initiated a share repurchase 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 often a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

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

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

In related 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 shares were sold at an average price of $62.50, for a total value of $263,062.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZION. Robert W. Baird lifted their price target on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Morgan Stanley cut their price target on Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Barclays lifted their price target on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, April 22nd. Stephens began coverage on Zions Bancorporation, N.A. in a research note on Monday. They issued an “overweight” rating and a $79.00 target price on the stock. Finally, Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.35.

About Zions Bancorporation, N.A.

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.