Mercer Global Advisors Inc. ADV Purchases New Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Mercer Global Advisors Inc. ADV purchased a new stake in Zions Bancorporation, National Association (NASDAQ:ZION) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,451 shares of the bank’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ZION. EverSource Wealth Advisors LLC grew its stake in Zions Bancorporation, National Association by 51.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 541 shares of the bank’s stock valued at $29,000 after buying an additional 183 shares during the last quarter. Covestor Ltd grew its stake in Zions Bancorporation, National Association by 128.1% in the 4th quarter. Covestor Ltd now owns 853 shares of the bank’s stock valued at $46,000 after buying an additional 479 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in Zions Bancorporation, National Association by 120.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 901 shares of the bank’s stock valued at $49,000 after buying an additional 493 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Zions Bancorporation, National Association in the 4th quarter valued at about $62,000. Finally, Natixis acquired a new position in Zions Bancorporation, National Association in the 4th quarter valued at about $102,000. Institutional investors and hedge funds own 76.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ZION shares. Truist Financial started coverage on shares of Zions Bancorporation, National Association in a research note on Tuesday. They issued a “hold” rating and a $52.00 price target on the stock. Robert W. Baird decreased their target price on shares of Zions Bancorporation, National Association from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods decreased their target price on shares of Zions Bancorporation, National Association from $65.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. DA Davidson increased their target price on shares of Zions Bancorporation, National Association from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada decreased their target price on shares of Zions Bancorporation, National Association from $63.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.47.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 22,673 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $56.47, for a total transaction of $1,280,344.31. Following the completion of the transaction, the executive vice president now owns 29,313 shares of the company’s stock, valued at approximately $1,655,305.11. This trade represents a 43.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.22% of the stock is owned by insiders.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $49.22 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 1.61 and a beta of 0.88. The firm’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $52.87. Zions Bancorporation, National Association has a 1 year low of $39.32 and a 1 year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings data on Monday, April 21st. The bank reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $792.49 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, research analysts expect that Zions Bancorporation, National Association will post 5.39 earnings per share for the current fiscal year.

Zions Bancorporation, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, May 15th. Zions Bancorporation, National Association’s payout ratio is 33.59%.

Zions Bancorporation, National Association declared that its board has initiated a stock buyback plan on Monday, February 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.