Headlands Technologies LLC Boosts Stock Position in Zions Bancorporation, N.A. $ZION

Headlands Technologies LLC boosted its stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 85.0% in the second quarter, Holdings Channel reports. The fund owned 35,095 shares of the bank’s stock after purchasing an additional 16,127 shares during the period. Headlands Technologies LLC’s holdings in Zions Bancorporation, N.A. were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ZION. Elevation Wealth Partners LLC increased its holdings in shares of Zions Bancorporation, N.A. by 528.8% in the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock valued at $29,000 after purchasing an additional 349 shares during the period. Trust Co. of Vermont purchased a new position in Zions Bancorporation, N.A. in the 2nd quarter valued at $35,000. Leonteq Securities AG purchased 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. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Zions Bancorporation, N.A. in the 2nd quarter valued at $45,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

Zions Bancorporation, N.A. Stock Performance

NASDAQ:ZION opened at $67.78 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $73.34. The stock has a market cap of $9.89 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. The firm’s fifty day simple moving average is $69.87 and its 200-day simple moving average is $63.82.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a net margin of 23.92% and a return on equity of 13.72%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $877.44 million. During the same quarter last year, the firm posted $1.63 EPS. The business’s revenue was up 35.7% compared to the same quarter last year. Analysts expect that Zions Bancorporation, N.A. will post 6.6 earnings per share for the current fiscal year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

Zions Bancorporation, N.A. declared that its Board of Directors has initiated a share repurchase program on Thursday, July 30th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the bank to buy up to 0.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen raised their target price on shares of Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. cut shares of 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. DA Davidson increased their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a report on Friday, July 31st. Finally, Stephens lowered their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $71.29.

Insider Activity

In other news, EVP Derek Steward sold 894 shares of Zions Bancorporation, N.A. stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of the sale, the executive vice president directly owned 17,449 shares in the company, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $70.63, for a total value of $2,350,919.55. Following the completion of the sale, the president owned 73,043 shares in the company, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 88,787 shares of company stock worth $6,283,858. Company insiders own 1.43% of the company’s stock.

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.