Burns Matteson Capital Management LLC Invests $587,000 in Zions Bancorporation, N.A. $ZION

Burns Matteson Capital Management LLC acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,029 shares of the bank’s stock, valued at approximately $587,000.

Several other institutional investors have also recently added to or reduced their stakes in ZION. Community Bank N.A. purchased a new position in Zions Bancorporation, N.A. during the third quarter worth about $36,000. Steph & Co. purchased a new stake in Zions Bancorporation, N.A. in the 3rd quarter valued at about $37,000. Salomon & Ludwin LLC acquired a new position in shares of Zions Bancorporation, N.A. during the 3rd quarter valued at about $37,000. Quent Capital LLC purchased a new position in shares of Zions Bancorporation, N.A. during the 3rd quarter worth about $45,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Zions Bancorporation, N.A. by 3,950.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 810 shares of the bank’s stock worth $46,000 after acquiring an additional 790 shares during the period. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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

In other news, EVP Steven Dan Stephens sold 15,476 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $65.90, for a total value of $1,019,868.40. Following the completion of the sale, the executive vice president owned 41,127 shares of the company’s stock, valued at $2,710,269.30. This represents a 27.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harris H. Simmons bought 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were bought at an average price of $59.03 per share, for a total transaction of $265,635.00. Following the completion of the acquisition, the chief executive officer owned 1,317,493 shares in the company, valued at approximately $77,771,611.79. This trade represents a 0.34% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 55,581 shares of company stock worth $3,498,774. Corporate insiders own 1.43% of the company’s stock.

Zions Bancorporation, N.A. Stock Up 3.7%

Shares of NASDAQ:ZION opened at $57.62 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 0.86. Zions Bancorporation, N.A. has a 1 year low of $39.32 and a 1 year high of $66.18. The stock has a market capitalization of $8.47 billion, a P/E ratio of 9.60 and a beta of 0.83. The stock has a 50-day simple moving average of $58.78 and a 200-day simple moving average of $56.76.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, February 12th. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. Zions Bancorporation, N.A.’s payout ratio is presently 30.00%.

Analysts Set New Price Targets

ZION has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Zions Bancorporation, N.A. from $61.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Royal Bank Of Canada increased their price target on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 21st. Morgan Stanley decreased their price target on shares of Zions Bancorporation, N.A. from $75.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday. TD Cowen boosted their price objective on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the company a “hold” rating in a research note on Wednesday, January 21st. Finally, Piper Sandler upped their price objective on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zions Bancorporation, N.A. presently has an average rating of “Hold” and an average price target of $63.21.

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.