Meeder Asset Management Inc. Invests $612,000 in Zions Bancorporation, N.A. $ZION

Meeder Asset Management Inc. acquired a new stake in Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,840 shares of the bank’s stock, valued at approximately $612,000.

A number of other institutional investors have also recently made changes to their positions in the business. Bessemer Group Inc. boosted its position in Zions Bancorporation, N.A. by 5.2% in the 1st quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock valued at $182,000 after buying an additional 157 shares during the period. Michels Family Financial LLC increased its position in shares of Zions Bancorporation, N.A. by 1.5% during the fourth quarter. Michels Family Financial LLC now owns 12,142 shares of the bank’s stock worth $711,000 after acquiring an additional 185 shares during the period. C M Bidwell & Associates Ltd. increased its position in shares of Zions Bancorporation, N.A. by 13.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,555 shares of the bank’s stock worth $91,000 after acquiring an additional 185 shares during the period. Alta Capital Management LLC raised its stake in shares of Zions Bancorporation, N.A. by 0.7% in the fourth quarter. Alta Capital Management LLC now owns 27,838 shares of the bank’s stock valued at $1,630,000 after acquiring an additional 203 shares in the last quarter. Finally, Modern Wealth Management LLC raised its stake in shares of Zions Bancorporation, N.A. by 4.7% in the first quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock valued at $272,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Insider Buying and Selling

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction dated 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 transaction, the president directly owned 73,043 shares in the company, valued at approximately $5,159,027.09. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derek Steward sold 894 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $69.65, for a total transaction of $62,267.10. Following the sale, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 88,787 shares of company stock worth $6,283,858. 1.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ZION has been the subject of several recent research reports. Robert W. Baird lifted their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Truist Financial boosted their target price on Zions Bancorporation, N.A. from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Stephens lowered their price target on Zions Bancorporation, N.A. from $82.00 to $80.00 and set an “overweight” rating for the company in a report 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 objective on the stock. in a report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price objective on shares of Zions Bancorporation, N.A. from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.29.

Zions Bancorporation, N.A. Price Performance

ZION stock opened at $70.93 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $10.35 billion, a P/E ratio of 9.04, a PEG ratio of 1.72 and a beta of 0.81. The business has a 50 day simple moving average of $69.61 and a 200-day simple moving average of $63.52. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings results on Monday, July 20th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.57 by $0.17. The business had revenue of $1.14 billion during 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 company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. As a group, equities analysts anticipate that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

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

Zions Bancorporation, N.A. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, August 13th. 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 2.7%. Zions Bancorporation, N.A.’s dividend payout ratio is 24.46%.

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.