1,058 Shares in Zions Bancorporation, N.A. (NASDAQ:ZION) Purchased by CX Institutional

CX Institutional purchased a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,058 shares of the bank’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Zions Bancorporation, N.A. by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,037,323 shares of the bank’s stock valued at $1,032,775,000 after acquiring an additional 285,588 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Zions Bancorporation, N.A. by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,807,221 shares of the bank’s stock worth $369,295,000 after acquiring an additional 175,656 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Zions Bancorporation, N.A. by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,882,983 shares of the bank’s stock valued at $264,902,000 after purchasing an additional 194,995 shares during the last quarter. First Trust Advisors LP grew its stake in Zions Bancorporation, N.A. by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank’s stock valued at $123,016,000 after purchasing an additional 390,601 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Zions Bancorporation, N.A. by 249.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,624,521 shares of the bank’s stock worth $88,130,000 after purchasing an additional 1,159,888 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Trading Down 1.2%

Shares of NASDAQ:ZION opened at $47.28 on Wednesday. The company’s fifty day simple moving average is $46.57 and its 200 day simple moving average is $51.28. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $63.22. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 1.56 and a beta of 0.88. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.71.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, April 21st. The bank reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, N.A. had a return on equity of 13.53% and a net margin of 16.08%. During the same quarter in the prior year, the firm posted $0.96 EPS. As a group, research analysts forecast that Zions Bancorporation, N.A. will post 5.39 EPS for the current fiscal year.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $0.43 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.72 annualized dividend and a yield of 3.64%. Zions Bancorporation, N.A.’s payout ratio is currently 33.59%.

Wall Street Analyst Weigh In

ZION has been the subject of a number of recent analyst reports. Argus raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Monday, April 28th. Wells Fargo & Company dropped their price target on Zions Bancorporation, N.A. from $58.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird dropped their price objective on shares of Zions Bancorporation, N.A. from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen raised Zions Bancorporation, N.A. from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Stephens lowered their price objective on Zions Bancorporation, N.A. from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.94.

About Zions Bancorporation, N.A.

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.