Clearstead Advisors LLC Raises Stake in Zions Bancorporation, National Association (NASDAQ:ZION)

Clearstead Advisors LLC lifted its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) by 32.2% in the third quarter, Holdings Channel reports. The firm owned 7,905 shares of the bank’s stock after purchasing an additional 1,924 shares during the period. Clearstead Advisors LLC’s holdings in Zions Bancorporation, National Association were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZION. Private Trust Co. NA purchased a new position in Zions Bancorporation, National Association in the 2nd quarter worth approximately $29,000. Ronald Blue Trust Inc. purchased a new position in Zions Bancorporation, National Association in the 2nd quarter worth approximately $37,000. International Assets Investment Management LLC purchased a new position in Zions Bancorporation, National Association in the 3rd quarter worth approximately $50,000. Parkside Financial Bank & Trust boosted its holdings in Zions Bancorporation, National Association by 39.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,328 shares of the bank’s stock worth $68,000 after acquiring an additional 377 shares during the period. Finally, Eagle Bay Advisors LLC boosted its stake in shares of Zions Bancorporation, National Association by 4,061.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,498 shares of the bank’s stock valued at $76,000 after buying an additional 1,462 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ZION shares. Truist Financial increased their target price on Zions Bancorporation, National Association from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. UBS Group increased their target price on Zions Bancorporation, National Association to $65.00 in a research note on Wednesday, November 16th. Barclays cut Zions Bancorporation, National Association from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $68.00 to $59.00 in a research note on Tuesday, January 3rd. DA Davidson upgraded Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Tuesday, December 20th. They noted that the move was a valuation call. Finally, Morgan Stanley dropped their price target on Zions Bancorporation, National Association from $65.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Zions Bancorporation, National Association has an average rating of “Hold” and a consensus target price of $58.32.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ ZION opened at $31.31 on Wednesday. Zions Bancorporation, National Association has a 1-year low of $22.55 and a 1-year high of $71.25. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.84 and a quick ratio of 0.84. The business’s fifty day moving average price is $50.35 and its two-hundred day moving average price is $51.20. The firm has a market capitalization of $4.65 billion, a PE ratio of 5.40, a P/E/G ratio of 0.25 and a beta of 1.17.

Zions Bancorporation, National Association (NASDAQ:ZION – Get Rating) last issued its earnings results on Monday, January 23rd. The bank reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.18. Zions Bancorporation, National Association had a return on equity of 18.36% and a net margin of 27.18%. The firm had revenue of $988.00 million for the quarter, compared to analyst estimates of $873.05 million. During the same period last year, the company earned $1.34 earnings per share. On average, research analysts expect that Zions Bancorporation, National Association will post 6.4 EPS for the current year.

Zions Bancorporation, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 23rd. Shareholders of record on Thursday, February 16th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 5.24%. The ex-dividend date was Wednesday, February 15th. Zions Bancorporation, National Association’s dividend payout ratio is presently 28.28%.

Insiders Place Their Bets

In other news, EVP Terry Alan Shirey sold 2,248 shares of the firm’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $52.84, for a total transaction of $118,784.32. Following the transaction, the executive vice president now directly owns 19,221 shares of the company’s stock, valued at $1,015,637.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Terry Alan Shirey sold 2,248 shares of the firm’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $52.84, for a total transaction of $118,784.32. Following the transaction, the executive vice president now directly owns 19,221 shares of the company’s stock, valued at $1,015,637.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alan M. Forney sold 4,307 shares of the firm’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $53.02, for a total value of $228,357.14. Following the transaction, the chief executive officer now directly owns 18,014 shares in the company, valued at $955,102.28. The disclosure for this sale can be found here. Insiders have sold 12,932 shares of company stock valued at $693,458 over the last three months. Company insiders own 1.81% of the company’s stock.

Zions Bancorporation, National Association Profile

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Zions Bancorporation NA is a bank holding company, which engages in the provision of full banking and related services. It operates through the following segments: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington.