Jupiter Asset Management Ltd. Acquires New Holdings in Zions Bancorporation, N.A. $ZION

Jupiter Asset Management Ltd. bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,502 shares of the bank’s stock, valued at approximately $934,000.

A number of other hedge funds have also added to or reduced their stakes in ZION. DAVENPORT & Co LLC grew its holdings in shares of Zions Bancorporation, N.A. by 2.7% in the third quarter. DAVENPORT & Co LLC now owns 7,500 shares of the bank’s stock worth $424,000 after acquiring an additional 200 shares during the period. Parkside Financial Bank & Trust boosted its position in Zions Bancorporation, N.A. by 7.6% in the second quarter. Parkside Financial Bank & Trust now owns 2,926 shares of the bank’s stock worth $152,000 after purchasing an additional 206 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Zions Bancorporation, N.A. by 2.2% during the 3rd quarter. GAMMA Investing LLC now owns 10,567 shares of the bank’s stock valued at $598,000 after purchasing an additional 232 shares during the period. ProShare Advisors LLC increased its position in shares of Zions Bancorporation, N.A. by 3.9% during the 2nd quarter. ProShare Advisors LLC now owns 6,543 shares of the bank’s stock valued at $340,000 after purchasing an additional 244 shares during the last quarter. Finally, MainStreet Investment Advisors LLC lifted its stake in shares of Zions Bancorporation, N.A. by 2.5% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 10,886 shares of the bank’s stock worth $565,000 after purchasing an additional 265 shares during the period. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

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

In related news, EVP Jennifer Anne Smith sold 2,089 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $62.48, for a total transaction of $130,520.72. Following the completion of the transaction, the executive vice president directly owned 22,733 shares of the company’s stock, valued at approximately $1,420,357.84. This trade represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven Dan Stephens sold 15,476 shares of Zions Bancorporation, N.A. stock in a transaction on Friday, February 6th. The shares were sold at an average price of $65.90, for a total transaction of $1,019,868.40. Following the completion of the sale, the executive vice president owned 41,127 shares in the company, valued at approximately $2,710,269.30. This represents a 27.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 55,391 shares of company stock worth $3,487,037. Insiders own 1.77% of the company’s stock.

Analyst Upgrades and Downgrades

ZION has been the subject of several recent research reports. Stephens boosted their target price on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. UBS Group cut their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $57.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price objective on Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Evercore lifted their target price on Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. Finally, Truist Financial upped their price target on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.32.

Zions Bancorporation, N.A. Price Performance

NASDAQ:ZION opened at $62.50 on Monday. The business’s 50-day simple moving average is $60.46 and its two-hundred day simple moving average is $56.61. Zions Bancorporation, N.A. has a 52 week low of $39.32 and a 52 week high of $66.18. The stock has a market cap of $9.23 billion, a PE ratio of 10.42 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 30.00%.

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.