Strs Ohio Increases Stake in Zions Bancorporation, N.A. $ZION

Strs Ohio increased its position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) by 4,945.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,269 shares of the bank’s stock after buying an additional 171,795 shares during the period. Strs Ohio’s holdings in Zions Bancorporation, N.A. were worth $10,099,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Zions Bancorporation, N.A. by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,420,688 shares of the bank’s stock worth $434,407,000 after acquiring an additional 77,612 shares during the last quarter. LSV Asset Management raised its holdings in shares of Zions Bancorporation, N.A. by 1.3% in the 4th quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock valued at $227,607,000 after purchasing an additional 48,346 shares in the last quarter. Morgan Stanley raised its holdings in shares of Zions Bancorporation, N.A. by 10.8% in the 4th quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock valued at $184,478,000 after purchasing an additional 306,717 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Zions Bancorporation, N.A. by 31.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Zions Bancorporation, N.A. by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,963,243 shares of the bank’s stock worth $173,501,000 after purchasing an additional 30,881 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. 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 report on Wednesday, April 22nd. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Brean Capital initiated coverage on Zions Bancorporation, N.A. in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Morgan Stanley raised their target price on Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada boosted their target price on Zions Bancorporation, N.A. from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.35.

Zions Bancorporation, N.A. Price Performance

Shares of ZION opened at $69.35 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. Zions Bancorporation, N.A. has a fifty-two week low of $46.19 and a fifty-two week high of $71.26. The firm has a 50-day simple moving average of $64.13 and a 200-day simple moving average of $61.02. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

Zions Bancorporation, N.A. (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 20th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $853.73 million. Zions Bancorporation, N.A. had a return on equity of 13.90% and a net margin of 19.53%.During the same quarter in the previous year, the firm posted $1.13 EPS. On average, equities research analysts anticipate that Zions Bancorporation, N.A. will post 6.48 earnings per share for the current year.

Zions Bancorporation, N.A. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, May 14th. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is 27.99%.

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

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,209 shares of the business’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 value of $263,062.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.