Cibc World Market Inc. Makes New Investment in Zions Bancorporation, National Association (NASDAQ:ZION)

Cibc World Market Inc. bought a new position in Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,123 shares of the bank’s stock, valued at approximately $210,000.

Other hedge funds have also made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Zions Bancorporation, National Association by 0.8% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 38,265 shares of the bank’s stock worth $1,948,000 after acquiring an additional 315 shares during the period. FORA Capital LLC bought a new stake in shares of Zions Bancorporation, National Association in the 1st quarter valued at about $634,000. Treasurer of the State of North Carolina lifted its position in shares of Zions Bancorporation, National Association by 2.1% in the 1st quarter. Treasurer of the State of North Carolina now owns 57,031 shares of the bank’s stock worth $3,739,000 after purchasing an additional 1,147 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Zions Bancorporation, National Association by 8.4% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,475 shares of the bank’s stock valued at $293,000 after purchasing an additional 347 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Zions Bancorporation, National Association by 10.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,229 shares of the bank’s stock valued at $2,769,000 after buying an additional 4,144 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, National Association Price Performance

Shares of ZION opened at $51.52 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $51.83 and its 200-day moving average price is $53.46. Zions Bancorporation, National Association has a 1-year low of $46.58 and a 1-year high of $75.44. The firm has a market capitalization of $7.71 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Rating) last posted its quarterly earnings results on Monday, October 24th. The bank reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.18). Zions Bancorporation, National Association had a net margin of 26.92% and a return on equity of 14.98%. The firm had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $816.01 million. During the same quarter in the previous year, the firm posted $1.45 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that Zions Bancorporation, National Association will post 5.63 EPS for the current year.

Zions Bancorporation, National Association declared that its Board of Directors has initiated a share buyback plan on Friday, July 29th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 0.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Zions Bancorporation, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 10th were issued a $0.41 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $1.64 annualized dividend and a yield of 3.18%. Zions Bancorporation, National Association’s dividend payout ratio (DPR) is presently 30.94%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, SVP James R. Abbott acquired 2,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were purchased at an average price of $50.45 per share, for a total transaction of $100,900.00. Following the completion of the purchase, the senior vice president now directly owns 79,918 shares of the company’s stock, valued at $4,031,863.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Zions Bancorporation, National Association news, VP A Scott Anderson sold 14,774 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $49.82, for a total transaction of $736,040.68. Following the completion of the transaction, the vice president now owns 14,530 shares in the company, valued at approximately $723,884.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James R. Abbott bought 2,000 shares of the stock in a transaction dated Thursday, November 17th. The stock was bought at an average price of $50.45 per share, for a total transaction of $100,900.00. Following the purchase, the senior vice president now directly owns 79,918 shares of the company’s stock, valued at $4,031,863.10. The disclosure for this purchase can be found here. 1.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Zions Bancorporation, National Association from $66.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, October 25th. Barclays decreased their price objective on Zions Bancorporation, National Association from $71.00 to $68.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 25th. Piper Sandler cut their target price on Zions Bancorporation, National Association from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 25th. Keefe, Bruyette & Woods lowered shares of Zions Bancorporation, National Association from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $77.00 to $72.00 in a research report on Thursday, October 6th. Finally, Stephens lowered their price target on shares of Zions Bancorporation, National Association from $61.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.31.

Zions Bancorporation, National Association Company Profile

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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