Caprock Group LLC Takes Position in Zions Bancorporation, N.A. $ZION

Caprock Group LLC acquired a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,459 shares of the bank’s stock, valued at approximately $1,825,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZION. DAVENPORT & Co LLC grew its holdings in 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 purchasing an additional 200 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Zions Bancorporation, N.A. by 7.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,926 shares of the bank’s stock worth $152,000 after purchasing an additional 206 shares in the last quarter. GAMMA Investing LLC grew its stake in Zions Bancorporation, N.A. by 2.2% during the 3rd quarter. GAMMA Investing LLC now owns 10,567 shares of the bank’s stock worth $598,000 after buying an additional 232 shares during the last quarter. ProShare Advisors LLC grew its stake in Zions Bancorporation, N.A. by 3.9% during the 2nd quarter. ProShare Advisors LLC now owns 6,543 shares of the bank’s stock worth $340,000 after buying an additional 244 shares during the last quarter. Finally, MainStreet Investment Advisors LLC increased its position in Zions Bancorporation, N.A. by 2.5% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 10,886 shares of the bank’s stock valued at $565,000 after buying an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Insider Activity

In related news, VP Eric Ellingsen sold 1,519 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $61.27, for a total value of $93,069.13. Following the transaction, the vice president directly owned 40,361 shares of the company’s stock, valued at approximately $2,472,918.47. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Scott J. Mclean sold 28,980 shares of Zions Bancorporation, N.A. stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $61.15, for a total transaction of $1,772,127.00. Following the sale, the president directly owned 82,250 shares in the company, valued at approximately $5,029,587.50. This trade represents a 26.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 53,302 shares of company stock worth $3,356,517. Company insiders own 2.22% of the company’s stock.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $61.26 on Friday. Zions Bancorporation, N.A. has a 12 month low of $39.32 and a 12 month high of $66.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50 day simple moving average is $60.06 and its 200-day simple moving average is $56.26. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 10.21 and a beta of 0.85.

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, February 12th. This represents a $1.80 dividend on an annualized basis and a yield of 2.9%. Zions Bancorporation, N.A.’s dividend payout ratio is currently 30.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ZION shares. Jefferies Financial Group upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a report on Wednesday, November 19th. Piper Sandler boosted their target price on shares of Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Citigroup raised their price target on shares of Zions Bancorporation, N.A. from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Finally, Bank of America upgraded Zions Bancorporation, N.A. from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $59.00 to $62.00 in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.32.

Zions Bancorporation, N.A. 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.