Renaissance Technologies LLC Takes $13.28 Million Position in Zions Bancorporation, N.A. $ZION

by · The Cerbat Gem

Renaissance Technologies LLC acquired a new stake in shares of Zions Bancorporation, N.A. (NASDAQ:ZIONFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 230,495 shares of the bank’s stock, valued at approximately $13,281,000. Renaissance Technologies LLC owned 0.16% of Zions Bancorporation, N.A. as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZION. Torren Management LLC purchased a new stake in Zions Bancorporation, N.A. during the 4th quarter valued at $32,000. Leonteq Securities AG bought a new position in shares of Zions Bancorporation, N.A. during the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth $36,000. V Square Quantitative Management LLC purchased a new position in shares of Zions Bancorporation, N.A. in the 4th quarter worth $42,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Zions Bancorporation, N.A. in the fourth quarter worth $49,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ZION. Weiss Ratings upgraded Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Royal Bank Of Canada raised their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Evercore downgraded Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target for the company. in a research note on Thursday, July 23rd. DA Davidson upped their price target on shares of Zions Bancorporation, N.A. from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley upped their price target on shares of Zions Bancorporation, N.A. from $68.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. 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 company. Based on data from MarketBeat.com, Zions Bancorporation, N.A. presently has a consensus rating of “Hold” and a consensus price target of $71.29.

View Our Latest Research Report on ZION

Insider Activity

In other Zions Bancorporation, N.A. news, EVP Derek Steward sold 894 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,215,322.85. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jennifer Anne Smith sold 4,209 shares of Zions Bancorporation, N.A. stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $62.50, for a total value of $263,062.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,653 shares of company stock valued at $359,958 in the last three months. 1.43% of the stock is currently owned by corporate insiders.

Zions Bancorporation, N.A. Trading Up 0.3%

NASDAQ:ZION opened at $69.70 on Friday. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. The business has a fifty day moving average price of $67.51 and a 200-day moving average price of $62.50. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84.

Zions Bancorporation, N.A. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.48 per share. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, August 13th. Zions Bancorporation, N.A.’s dividend payout ratio is presently 22.93%.

Zions Bancorporation, N.A. declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Zions Bancorporation, N.A. Profile

(Free Report)

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.

Further Reading

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