114,645 Shares in Zions Bancorporation, N.A. $ZION Purchased by Rhino Investment Partners Inc

Rhino Investment Partners Inc acquired a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the first quarter, HoldingsChannel reports. The institutional investor acquired 114,645 shares of the bank’s stock, valued at approximately $6,606,000. Zions Bancorporation, N.A. accounts for 1.8% of Rhino Investment Partners Inc’s portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Torren Management LLC purchased a new position in shares of Zions Bancorporation, N.A. during the fourth quarter valued at approximately $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $32,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $36,000. V Square Quantitative Management LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 4th quarter worth approximately $42,000. Finally, International Assets Investment Management LLC bought a new position in Zions Bancorporation, N.A. during the 4th quarter valued at approximately $49,000. Institutional investors own 76.84% of the company’s stock.

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

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. 1.43% of the stock is owned by corporate insiders.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $69.52 on Wednesday. The firm has a market cap of $10.23 billion, a P/E ratio of 8.86, a PEG ratio of 1.64 and a beta of 0.80. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $67.06 and a 200 day moving average of $62.32.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a share buyback program on Saturday, May 2nd that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the bank to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 22.93%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZION shares. Piper Sandler lowered their price objective on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Morgan Stanley increased their target price on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. DA Davidson raised their price target on Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Citigroup lifted their price target on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.29.

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.