American Century Companies Inc. Acquires 74,626 Shares of Zions Bancorporation, N.A. $ZION

American Century Companies Inc. raised its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 13.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 631,238 shares of the bank’s stock after buying an additional 74,626 shares during the quarter. American Century Companies Inc. owned about 0.43% of Zions Bancorporation, N.A. worth $35,715,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ZION. Traub Capital Management LLC bought a new stake in Zions Bancorporation, N.A. in the second quarter valued at $31,000. Assetmark Inc. raised its holdings in Zions Bancorporation, N.A. by 75.3% in the 2nd quarter. Assetmark Inc. now owns 673 shares of the bank’s stock worth $35,000 after purchasing an additional 289 shares in the last quarter. Steph & Co. bought a new position in Zions Bancorporation, N.A. in the 3rd quarter worth $37,000. Salomon & Ludwin LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $37,000. Finally, Quent Capital LLC purchased a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter worth about $45,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jennifer Anne Smith sold 6,558 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $64.80, for a total transaction of $424,958.40. Following the completion of the sale, the executive vice president owned 18,761 shares in the company, valued at approximately $1,215,712.80. This represents a 25.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harris H. Simmons bought 4,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was purchased at an average cost of $59.03 per share, for a total transaction of $265,635.00. Following the acquisition, the chief executive officer owned 1,317,493 shares of the company’s stock, valued at $77,771,611.79. This trade represents a 0.34% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 55,581 shares of company stock worth $3,498,774. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZION. Stephens boosted their price target 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. Piper Sandler raised their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. TD Cowen lifted their price objective on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Truist Financial upped their target price on Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Finally, Jefferies Financial Group raised Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.58.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION opened at $55.74 on Friday. The firm’s 50-day moving average price is $60.25 and its 200-day moving average price is $56.99. Zions Bancorporation, N.A. has a 52-week low of $39.32 and a 52-week high of $66.18. The company has a market cap of $8.24 billion, a PE ratio of 9.29 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.64.

Zions Bancorporation, N.A. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, February 12th. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. Zions Bancorporation, N.A.’s payout ratio is currently 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.