49,259 Shares in Zions Bancorporation, N.A. $ZION Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 49,259 shares of the bank’s stock, valued at approximately $3,408,000.

Several other institutional investors also recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its position in Zions Bancorporation, N.A. by 528.8% during the second quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after buying an additional 349 shares during the period. Trust Co. of Vermont acquired a new position in Zions Bancorporation, N.A. during the second quarter valued at approximately $35,000. Leonteq Securities AG purchased a new stake in Zions Bancorporation, N.A. during the 4th quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth about $36,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Zions Bancorporation, N.A. in the 2nd quarter worth approximately $45,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

Zions Bancorporation, N.A. Stock Performance

Shares of NASDAQ ZION opened at $69.37 on Friday. Zions Bancorporation, N.A. has a 12-month low of $46.19 and a 12-month high of $73.34. The company has a market cap of $10.12 billion, a PE ratio of 8.84, a P/E/G ratio of 1.17 and a beta of 0.78. The stock has a 50 day simple moving average of $69.82 and a 200-day simple moving average of $64.01. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.57 by $0.17. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $877.44 million. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The firm’s revenue was up 35.7% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a dividend of $0.48 per share. This is an increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is presently 24.46%.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Zions Bancorporation, N.A. in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price objective on shares of Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. TD Cowen increased their price target on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Wells Fargo & Company raised their price target on Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Finally, Stephens reduced their price objective on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.29.

Insider Activity at Zions Bancorporation, N.A.

In other news, President Scott Mclean sold 33,285 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 directly owned 73,043 shares of the company’s stock, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Derek Steward sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the sale, the executive vice president owned 17,449 shares of the company’s stock, valued at $1,215,322.85. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 88,787 shares of company stock worth $6,283,858 over the last ninety days. 1.43% of the stock is currently owned by corporate insiders.

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.