Zions Bancorporation, N.A. $ZION Stock Holdings Increased by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,598 shares of the bank’s stock after purchasing an additional 21,790 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Zions Bancorporation, N.A. worth $17,263,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $32,000. Leonteq Securities AG bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter worth $32,000. Atlas Capital Advisors Inc. acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth $36,000. V Square Quantitative Management LLC acquired a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth $42,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Zions Bancorporation, N.A. during the fourth quarter worth $49,000. 76.84% of the stock is currently owned by institutional investors.

Zions Bancorporation, N.A. News Summary

Here are the key news stories impacting Zions Bancorporation, N.A. this week:

• Positive Sentiment: Several analysts reiterated upbeat views on Zions, with Wells Fargo, RBC, DA Davidson, and TD Cowen all cited as expecting meaningful upside in the stock, reinforcing a generally favorable broader sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
• Positive Sentiment: Robert W. Baird raised its price target on Zions to $75, signaling confidence in further upside from current levels. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
• Positive Sentiment: TipRanks highlighted Zions’ earnings call as showing resilient growth, which supports the bank’s fundamental story following its recent quarterly report. Zions Bancorporation Earnings Call Signals Resilient Growth
• Neutral Sentiment: Zions remains a value-name candidate in Zacks’ long-term stock screen, which may help investor interest but is not a near-term catalyst. Why Zions (ZION) is a Top Value Stock for the Long-Term
• Negative Sentiment: Evercore downgraded Zions from “outperform” to “in-line” and set a $68 target, slightly below the current share price, which appears to be the main reason for the stock’s weakness. Read More
• Negative Sentiment: Reports of the shares gapping down on the downgrade suggest traders are reacting quickly to the more cautious Evercore call. Zions Bancorporation, N.A. Shares Gap Down on Analyst Downgrade

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Stock Down 1.3%

ZION stock opened at $69.16 on Friday. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. The company has a 50-day moving average of $66.52 and a two-hundred day moving average of $62.14. Zions Bancorporation, N.A. has a 52-week low of $46.19 and a 52-week high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.83.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to analyst estimates of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.During the same quarter last year, the firm posted $1.13 EPS. As a group, equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.56 EPS for the current year.

Zions Bancorporation, N.A. announced that its board has initiated a stock repurchase program on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 22.93%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore lowered shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price objective for the company. in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday. Barclays increased their target price on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. Citigroup raised their target price 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. Finally, Robert W. Baird lifted their price target on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.