43,899 Shares in Zions Bancorporation, N.A. $ZION Acquired by Readystate Asset Management LP

Readystate Asset Management LP purchased a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) during the 1st quarter, Holdings Channel.com reports. The fund purchased 43,899 shares of the bank’s stock, valued at approximately $2,529,000.

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

Zions Bancorporation, N.A. Trading Up 1.5%

ZION opened at $69.52 on Wednesday. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month 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. The stock has a market capitalization of $10.23 billion, a PE ratio of 8.86, a P/E/G ratio of 1.64 and a beta of 0.80. The firm’s fifty day moving average price is $67.06 and its 200 day moving average price is $62.32.

Zions Bancorporation, N.A. Dividend Announcement

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 $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Zions Bancorporation, N.A.’s payout ratio is currently 22.93%.

Zions Bancorporation, N.A. announced that its board has initiated a stock buyback plan on Saturday, May 2nd that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays raised their price objective on Zions Bancorporation, N.A. from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, April 22nd. Citigroup increased their target price on Zions Bancorporation, N.A. from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Truist Financial boosted their price target on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. cut Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target for the company. in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald increased their price objective on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Zions Bancorporation, N.A. currently has a consensus rating of “Hold” and a consensus target price of $71.29.

Insider Transactions at Zions Bancorporation, N.A.

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

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.