SG Americas Securities LLC Buys 5,418 Shares of Zions Bancorporation, National Association (NASDAQ:ZION)

SG Americas Securities LLC grew its position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) by 137.1% in the 3rd quarter, Holdings Channel reports. The firm owned 9,369 shares of the bank’s stock after acquiring an additional 5,418 shares during the quarter. SG Americas Securities LLC’s holdings in Zions Bancorporation, National Association were worth $580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Zions Bancorporation, National Association by 93.2% in the 3rd quarter. Nordea Investment Management AB now owns 1,052,652 shares of the bank’s stock valued at $66,548,000 after purchasing an additional 507,800 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in Zions Bancorporation, National Association in the third quarter valued at $1,218,000. TCI Wealth Advisors Inc. lifted its holdings in Zions Bancorporation, National Association by 2.2% in the third quarter. TCI Wealth Advisors Inc. now owns 15,315 shares of the bank’s stock valued at $948,000 after buying an additional 333 shares during the period. WINTON GROUP Ltd boosted its position in Zions Bancorporation, National Association by 17.3% during the third quarter. WINTON GROUP Ltd now owns 11,697 shares of the bank’s stock valued at $724,000 after acquiring an additional 1,726 shares during the last quarter. Finally, JCSD Capital LLC acquired a new stake in Zions Bancorporation, National Association during the 3rd quarter worth about $186,000. Hedge funds and other institutional investors own 83.10% of the company’s stock.

In other Zions Bancorporation, National Association news, EVP Steven Dan Stephens sold 8,000 shares of Zions Bancorporation, National Association stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $64.40, for a total value of $515,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Mark Richard Young sold 403 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $63.07, for a total transaction of $25,417.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,783 shares of company stock worth $2,281,427. Insiders own 1.73% of the company’s stock.

Zions Bancorporation, National Association stock opened at $70.65 on Friday. Zions Bancorporation, National Association has a fifty-two week low of $43.64 and a fifty-two week high of $71.21. The stock has a market cap of $11.05 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.88 and a beta of 1.42. The firm’s 50-day simple moving average is $64.91 and its 200 day simple moving average is $59.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.80 and a current ratio of 0.80.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings results on Sunday, October 17th. The bank reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.10. Zions Bancorporation, National Association had a net margin of 40.66% and a return on equity of 16.21%. The business had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $710.64 million. During the same period in the previous year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts predict that Zions Bancorporation, National Association will post 6.74 EPS for the current fiscal year.

Zions Bancorporation, National Association announced that its board has initiated a stock repurchase plan on Friday, October 22nd that allows the company to repurchase $325.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 18th. Shareholders of record on Wednesday, November 10th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Tuesday, November 9th. Zions Bancorporation, National Association’s dividend payout ratio is 21.44%.

A number of brokerages have weighed in on ZION. Royal Bank of Canada lifted their target price on Zions Bancorporation, National Association from $65.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 19th. Wells Fargo & Company upped their price target on Zions Bancorporation, National Association from $59.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 19th. Jefferies Financial Group increased their price target on Zions Bancorporation, National Association from $56.00 to $68.00 and gave the stock a “hold” rating in a report on Monday, October 11th. B. Riley boosted their price objective on Zions Bancorporation, National Association from $68.00 to $77.00 in a report on Wednesday. Finally, Raymond James upped their target price on Zions Bancorporation, National Association from $73.00 to $76.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.63.

Zions Bancorporation, National Association Company Profile

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.

Further Reading: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for Zions Bancorporation, National Association (NASDAQ:ZION)

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