Maltese Capital Management LLC Trims Stake in Zions Bancorporation, N.A. $ZION

Maltese Capital Management LLC lessened its holdings in Zions Bancorporation, N.A. (NASDAQ:ZION) by 36.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 160,000 shares of the bank’s stock after selling 93,000 shares during the period. Zions Bancorporation, N.A. accounts for approximately 1.4% of Maltese Capital Management LLC’s portfolio, making the stock its 24th largest holding. Maltese Capital Management LLC owned approximately 0.11% of Zions Bancorporation, N.A. worth $9,053,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ZION. Thrivent Financial for Lutherans increased its position in shares of Zions Bancorporation, N.A. by 6.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,041,063 shares of the bank’s stock worth $115,483,000 after purchasing an additional 122,815 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Zions Bancorporation, N.A. in the 3rd quarter valued at about $934,000. LSV Asset Management lifted its stake in Zions Bancorporation, N.A. by 4.5% in the second quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock worth $205,689,000 after acquiring an additional 169,085 shares during the period. Bailard Inc. bought a new stake in Zions Bancorporation, N.A. in the third quarter valued at $487,000. Finally, Gateway Investment Advisers LLC increased its position in Zions Bancorporation, N.A. by 156.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 85,848 shares of the bank’s stock valued at $4,857,000 after purchasing an additional 52,381 shares during the period. Institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Up 0.8%

NASDAQ:ZION opened at $53.54 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $7.92 billion, a P/E ratio of 8.92 and a beta of 0.83. The firm has a 50-day simple moving average of $59.71 and a two-hundred day simple moving average of $56.93. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $66.18.

Zions Bancorporation, N.A. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $1.80 annualized dividend and a dividend yield of 3.4%. Zions Bancorporation, N.A.’s dividend payout ratio is presently 30.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TD Cowen raised their target price on shares of Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. Weiss Ratings lowered shares of Zions Bancorporation, N.A. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Royal Bank Of Canada upped their target price on Zions Bancorporation, N.A. from $63.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 21st. Barclays raised their target price on Zions Bancorporation, N.A. from $61.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Finally, Piper Sandler upped their price target on Zions Bancorporation, N.A. from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.58.

Insider Transactions at Zions Bancorporation, N.A.

In other news, President Scott J. Mclean sold 28,980 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $61.15, for a total transaction of $1,772,127.00. Following the completion of the sale, the president owned 82,250 shares of the company’s stock, valued at $5,029,587.50. The trade was a 26.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jennifer Anne Smith sold 6,558 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $64.80, for a total value of $424,958.40. Following the completion of the sale, the executive vice president owned 18,761 shares of the company’s stock, valued at $1,215,712.80. This trade represents a 25.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 55,581 shares of company stock worth $3,498,774. 1.77% of the stock is currently owned by corporate insiders.

About Zions Bancorporation, N.A.

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.