Verition Fund Management LLC Increases Stock Position in Zions Bancorporation, N.A. $ZION

Verition Fund Management LLC raised its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 2,485.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 378,026 shares of the bank’s stock after purchasing an additional 363,402 shares during the quarter. Verition Fund Management LLC’s holdings in Zions Bancorporation, N.A. were worth $22,130,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Zions Bancorporation, N.A. by 17.1% during the 4th quarter. Signaturefd LLC now owns 1,192 shares of the bank’s stock valued at $70,000 after buying an additional 174 shares during the period. C M Bidwell & Associates Ltd. boosted its position in Zions Bancorporation, N.A. by 13.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock valued at $91,000 after buying an additional 185 shares during the period. Alta Capital Management LLC boosted its position in Zions Bancorporation, N.A. by 0.7% during the 4th quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock valued at $1,630,000 after buying an additional 203 shares during the period. Stratos Wealth Partners LTD. boosted its position in Zions Bancorporation, N.A. by 3.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 7,886 shares of the bank’s stock valued at $462,000 after buying an additional 240 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in Zions Bancorporation, N.A. by 1.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 21,548 shares of the bank’s stock valued at $1,219,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Stock Down 1.5%

Shares of NASDAQ ZION opened at $66.27 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. Zions Bancorporation, N.A. has a 12 month low of $46.19 and a 12 month high of $67.99. The firm has a market capitalization of $9.75 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 2.23 and a beta of 0.81. The firm has a fifty day simple moving average of $62.15 and a two-hundred day simple moving average of $59.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 20th. The bank reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Zions Bancorporation, N.A. had a net margin of 19.53% and a return on equity of 13.90%. The business had revenue of $859.00 million during the quarter, compared to analyst estimates of $853.73 million. During the same period in the prior year, the business earned $1.13 EPS. Equities analysts expect that Zions Bancorporation, N.A. will post 6.44 earnings per share for the current year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a yield of 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio is 27.99%.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a stock buyback program on Saturday, May 2nd that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the bank to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZION shares. JPMorgan Chase & Co. increased their price target on shares of Zions Bancorporation, N.A. from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Citigroup increased their price target on shares of Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Stephens began coverage on shares of Zions Bancorporation, N.A. in a research report on Monday. They set an “overweight” rating and a $79.00 price target for the company. Finally, Royal Bank Of Canada upped their price objective on shares of Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and an average target price of $66.35.

Insider Buying and Selling

In related news, EVP Jennifer Anne Smith sold 4,209 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.43% of the company’s stock.

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.