Readystate Asset Management LP Takes $2.53 Million Position in Zions Bancorporation, N.A. $ZION

Readystate Asset Management LP acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 43,899 shares of the bank’s stock, valued at approximately $2,529,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Zions Bancorporation, N.A. by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after purchasing an additional 56,438 shares in the last quarter. LSV Asset Management grew its holdings in shares of Zions Bancorporation, N.A. by 1.3% during the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after buying an additional 48,346 shares in the last quarter. Morgan Stanley raised its position in shares of Zions Bancorporation, N.A. by 10.8% in the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after buying an additional 306,717 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Zions Bancorporation, N.A. by 31.6% in the third 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 during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Zions Bancorporation, N.A. by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock valued at $173,501,000 after buying an additional 30,881 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analysts Set New Price Targets

ZION has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 target price on the stock. in a research report on Tuesday, July 21st. Wells Fargo & Company increased their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. TD Cowen raised their price objective on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Citigroup lifted their price objective on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Evercore lowered Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price for the company. in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.29.

Zions Bancorporation, N.A. Price Performance

Zions Bancorporation, N.A. stock opened at $69.52 on Wednesday. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year high of $73.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50 day moving average price of $67.06 and a 200 day moving average price of $62.32. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 1.64 and a beta of 0.80.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s payout ratio is currently 22.93%.

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

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total transaction 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 owned by corporate insiders.

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.