Assenagon Asset Management S.A. Purchases Shares of 169,982 Zions Bancorporation, N.A. $ZION

Assenagon Asset Management S.A. acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 169,982 shares of the bank’s stock, valued at approximately $9,951,000. Assenagon Asset Management S.A. owned 0.12% of Zions Bancorporation, N.A. at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co. bought a new position in Zions Bancorporation, N.A. in the 4th quarter worth approximately $378,000. Silvia Mccoll Wealth Management LLC purchased a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at $206,000. Wealth Enhancement Advisory Services LLC grew its holdings in Zions Bancorporation, N.A. by 4.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 62,599 shares of the bank’s stock valued at $3,816,000 after purchasing an additional 2,431 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in Zions Bancorporation, N.A. during the 4th quarter valued at $234,000. Finally, Avior Wealth Management LLC bought a new position in shares of Zions Bancorporation, N.A. in the fourth quarter worth about $761,000. 76.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 769 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $60.46, for a total transaction of $46,493.74. Following the transaction, the executive vice president directly owned 14,307 shares in the company, valued at approximately $865,001.22. This represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Harris H. Simmons acquired 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the transaction, the chief executive officer directly owned 1,317,493 shares in the company, valued at approximately $77,771,611.79. This represents a 0.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 55,581 shares of company stock valued at $3,498,774 in the last quarter. Insiders own 2.22% of the company’s stock.

Zions Bancorporation, N.A. Stock Performance

Shares of ZION opened at $55.40 on Friday. The firm has a market cap of $8.15 billion, a PE ratio of 9.23 and a beta of 0.83. Zions Bancorporation, N.A. has a 12-month low of $39.32 and a 12-month high of $66.18. The company’s 50 day simple moving average is $58.89 and its 200-day simple moving average is $56.80. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Zions Bancorporation, N.A. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 12th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, February 12th. Zions Bancorporation, N.A.’s dividend payout ratio is currently 30.00%.

Analyst Upgrades and Downgrades

ZION has been the subject of several research reports. 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. Evercore upped their price objective on shares of Zions Bancorporation, N.A. from $65.00 to $68.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Brean Capital began coverage on shares of Zions Bancorporation, N.A. in a research note on Thursday, March 12th. They set a “neutral” rating for the company. TD Cowen lifted their price target 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. Finally, Stephens upped their price target on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned 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 stock has an average rating of “Hold” and an average price target of $63.58.

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.