Arrowstreet Capital Limited Partnership Sells 423,325 Shares of Zions Bancorporation, N.A. $ZION

Arrowstreet Capital Limited Partnership lowered its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 22.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,473,500 shares of the bank’s stock after selling 423,325 shares during the period. Arrowstreet Capital Limited Partnership owned 1.00% of Zions Bancorporation, N.A. worth $84,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZION. Torren Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter valued at approximately $32,000. Leonteq Securities AG acquired a new position in Zions Bancorporation, N.A. in the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. acquired a new position in Zions Bancorporation, N.A. in the 4th quarter valued at $36,000. V Square Quantitative Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $42,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Key Zions Bancorporation, N.A. News

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

• Positive Sentiment: Robert W. Baird raised its price target on Zions Bancorporation, N.A. (ZION) to $75, signaling room for further upside. Robert W. Baird Increases Zions Bancorporation, N.A. (NASDAQ:ZION) Price Target to $75.00
• Positive Sentiment: Wells Fargo, RBC, TD Cowen, and DA Davidson all issued bullish notes or strong appreciation forecasts for Zions Bancorporation, N.A. (ZION), reinforcing expectations for further share gains. Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says TD Cowen Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock DA Davidson Forecasts Strong Price Appreciation for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock
• Neutral Sentiment: Shares also saw unusually heavy options activity, suggesting traders are positioning for a larger move but without clear direction. Zions Bancorporation, N.A. Target of Unusually Large Options Trading (NASDAQ:ZION)
• Negative Sentiment: Evercore downgraded Zions Bancorporation, N.A. (ZION) from outperform to in-line and set a $68 target, implying modest downside from recent levels. Read More
• Negative Sentiment: Another report said ZION shares were gapping down on the analyst downgrade, highlighting that the downgrade is the main bearish catalyst weighing on sentiment. Zions Bancorporation, N.A. (NASDAQ:ZION) Shares Gap Down on Analyst Downgrade
• Negative Sentiment: Stephens also lowered expectations for Zions Bancorporation, N.A. (ZION), adding to the pressure from the Evercore downgrade. Stephens Has Lowered Expectations for Zions Bancorporation, N.A. (NASDAQ:ZION) Stock Price

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a research report on Tuesday, July 21st. Cantor Fitzgerald upped their price objective on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley increased their price objective on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. DA Davidson raised their target price on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Robert W. Baird boosted their target price on shares of Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.29.

Insiders Place Their Bets

In other Zions Bancorporation, N.A. news, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.43% of the stock is owned by corporate insiders.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $69.29 on Monday. The company has a 50 day simple moving average of $66.71 and a 200 day simple moving average of $62.20. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 1.66 and a beta of 0.80. Zions Bancorporation, N.A. has a 1 year low of $46.19 and a 1 year 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 0.84.

Zions Bancorporation, N.A. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 22.93%.

Zions Bancorporation, N.A. declared that its board has initiated a stock buyback plan on Saturday, May 2nd that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.